ASSET manager BlackRock Inc became a substantial shareholder of conglomerate Keppel Corporation : BN4 0% on Nov 18 after a related entity acquired 87,600 shares for a total of some S$650,000, a bourse filing on Tuesday (Nov 22) showed. 

This works out to a unit price of about S$7.43 per share. With the acquisition, BlackRock’s stake in Keppel was lifted to 5 per cent from 4.99 per cent, the filing said.

Following the share purchase, BlackRock currently holds a deemed interest of about 87.7 million Keppel shares through some 20 entities related to the asset manager. 

Shares of Keppel ended Tuesday at S$7.41, up 0.4 per cent or S$0.03.