BlackRock raises stake in CapitaLand to 5%

Asset manager BlackRock has raised its stake in property giant CapitaLand to 5 per cent, CapitaLand told the Singapore Exchange (SGX) on Tuesday.

Prior to obtaining more shares on Sept 12, BlackRock held 4.96 per cent of the firm, according to the SGX filing.

It acquired nearly 1.6 million shares in an off-market transaction which raised its holding to about 213.6 million shares. According to the filing, BlackRock paid nothing for those shares.

That amount of shares would have been worth about $5 million if valued at CapitaLand's closing price of $3.14 on Monday.

BlackRock said the change in its CapitaLand stake was due to a "change in collateral position".