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BlackRock ceases to be substantial shareholder of Venture Corp
ASSET manager BlackRock Inc has ceased to be a substantial shareholder of Venture Corporation, after related entity the PNC Financial Services Group reduced its holdings in Venture Corp on July 22.
In a filing to the Singapore Exchange on Wednesday, Venture Corp said PNC disposed of about 525,500 shares on Monday, reducing its shareholding in the electronics manufacturing services provider to 4.98 per cent.
Just one trading day prior, on July 19, PNC had increased its interest in Venture Corp to 5.16 per cent by purchasing about 525,400 Venture shares.
At that point, BlackRock was said to hold a deemed interest in Venture Corp through its indirect control of PNC, which has a substantial minority equity interest in BlackRock.