BlackRock becomes Toshiba's third largest stockholderEuropost
The US investment fund BlackRock announced in official filing to the Tokyo Stock Exchange that it had control over 5.21% of total shares in Japan's electronics giant Toshiba, Reuters reported. The stock volume makes BlackRock Toshiba's third largest shareholder after hedge funds Effissimo Capital Management and Farallon Capital Management, a source familiar with the matter told the agency.
Toshiba, involved in a long-running row with activist shareholders including Singapore-based Effissimo, has said the return to the TSE’s first section would lure buying from investors in stock indexes. Toshiba rejoined Japan’s Topix index of top tier shares on 25 February.The Japanese company was relegated to the second section in 2017 after massive writedowns at its US nuclear power business caused liabilities to exceed assets - a condition for automatic demotion.