Bullish indicating open at $55-$60, IPO prices at $37
LONDON - BlackRock (NYSE:BLK), Inc. has disclosed a 2.80% holding in Kenmare Resources plc, a company listed on the London Stock Exchange (LON:LSEG), as of Monday. This position equates to 2,505,965 ordinary shares in the mining firm, according to a filing with the Irish Takeover Panel.
The investment management corporation, which is one of the world’s largest asset managers, reported this stake following a sale of 6,177 Kenmare shares at a price of GBP 4.0000 each on the previous Thursday. The disclosure was made in accordance with the Irish Takeover Panel Act, 1997, Takeover Rules, 2022, which requires parties holding interests in relevant securities representing 1% or more to report their positions.
BlackRock’s disclosure does not indicate any cash-settled or stock-settled derivatives positions, nor any other short positions in Kenmare Resources plc. The filing also stated that there are no indemnity or option arrangements, or any agreements or understandings relating to the voting rights of the disclosed securities.
The information provided in this article is based on a press release statement from BlackRock, Inc. and is intended to inform the public and shareholders about the current ownership stakes in Kenmare Resources plc. No further details about BlackRock’s investment strategy or intentions regarding its stake in Kenmare Resources were provided in the disclosure.
Kenmare Resources plc is involved in the mining and processing of mineral sands. The company’s primary operations are located in Mozambique, where it produces ilmenite, zircon, and rutile. These minerals are used in a variety of products, including paints, plastics, and ceramics.
The disclosure of BlackRock’s stake in Kenmare Resources plc provides investors and the market with insight into the investment activities of major asset managers and their positions within the mining sector.
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