BlackRock takes 5% stake in HLB amid FDA review

BlackRock, the world’s largest asset manager, has become the second-largest shareholder of Korean biotechnology firm HLB, amid the US Food and Drug Administration's review of its liver cancer drug. According to HLB’s regulatory filing on Wednesday, BlackRock Fund Advisors had acquired 6,664,921 shares of HLB, or a 5.01 percent stake, as of Feb. 24. The filing stated that the on-exchange stock purchase was made under a simple investment purpose. Jin Yang-gon, founder and chair of HLB, owned a 7.2

By The Korea Herald