BlackRock Takes Position in Moncler
March 15 2019 - 7:36AM
Dow Jones News
By Cristina Roca
BlackRock Inc. (BLK) has taken a position of more than 5% in
Italian luxury-goods company Moncler SpA (MOV.MI), according to a
filing to the Italian financial-markets regulator released late on
Thursday.
According to the filing, the U.S. investment fund holds 5.026%
of Moncler's capital as of March 11.
BlackRock doesn't comment on individual portfolio companies, a
spokesperson for the company told Dow Jones Newswires.
"We are very happy that BlackRock believes in the Moncler
story," Moncler said.
The Italian company, which specializes in luxury outerwear, said
in February that its net profit for 2018 soared on the back of
double-digit revenue growth. The Milan-listed company's share price
has climbed 27% year-to-date. Remo Ruffini, the chairman and chief
executive of Moncler, holds a little over 26% of the company's
capital.
At 1148 GMT, Moncler traded 1.3% higher at EUR36.67.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
March 15, 2019 08:21 ET (12:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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