Blackrock has raised its interest in Anthony Gurnee’s Ardmore Shipping.
The financial heavyweight has revealed a stake of more than 5% in the New York-listed tanker owner.
A filing to the US Securities and Exchange Commission says Blackrock now holds more than 1.83 million Ardmore shares, which are today worth $13.27m.
Blackrock’s 5.6% stake makes it the third largest shareholder in Ardmore, behind GA Holdings, the fund by private equity firm Greenbriar Equity Group, FMR and Donald Smith & Co.
Blackrock has been an investor in Ardmore for more than a year. But the New York investment management giant reported a stake of just 9,223 shares worth an aggregate $64,000 as of the end of October, suggesting most of its major minority stake was built near the end of the year.
Ardmore shares were today trading at $7.25 each, giving the owner a market capitalisation of $245m.
