US-based asset manager BlackRock, a substantial shareholder of Venture Corp, has increased its stake in the manufacturing services provider. On May 31, BlackRock acquired 367,600 shares on the open market for $6.58 million of $17.90 each. BlackRock now holds around 17.6 million Venture shares, or a 6.05% stake, up from 5.93%. The stake change was disclosed in a June 2 filing.
Before the transaction, Blackrock’s most recent open market purchase of Venture shares was on Nov 30, when it acquired 728,800 shares for $18.55 each.
On Nov 5, 2021, the company announced that with effect from Jan 1, Wong Ngit Liong would relinquish his role as CEO to former chief operating officer Lee Ghai Keen. Wong would remain as Venture’s executive chairman. On Nov 8, 2021, Wong bought 200,000 shares at $18.73 each, bringing his total stake to nearly 20.65 million shares, or 7.106% of the company.