SINGAPORE (June 18): BlackRock Inc., the world’s largest asset manager, has become a substantial shareholder at CapitaLand Limited on Tuesday (June 16).

In a Thursday filing, BlackRock acquired over 7.5 million shares due to an increase in collateral. According to the filing, no money was exchanged.

This brings BlackRock’s total stake in CapitaLand Limited to over 253.2 million shares, or a 5.01% stake. The asset manager previously held 4.86%. A disclosure of shareholders’ interest is necessary when an investor’s stake in a particular company reaches 5% and above.

Under section 4 of the Securities and Futures Act (Cap. 289), BlackRock and its subsidiaries are considered to be interested persons in the shares.

Shares in CapitaLand closed 5 cents lower, or 1.7% down, at $2.97 on Thursday.

See also: OCBC and CapitaLand signs $150 mil SORA-based loan facility agreement, first in Singapore, and CapitaLand boosts recovery in China through CapitaStar app