BlackRock Revises Stake in PDD Holdings as 33M Shares, Instead of 132M+ Shares
Tiger Newspress10-23
BlackRock radically revised down its holdings in the Chinese e-commerce company, Pinduoduo as of 3Q24, from 132 million shares disclosed on Monday (21st) to 33.01 million shares revised on Tuesday (22nd), and the percentage of shares in Pinduoduo was revised from 9.5% to 2.4%, according to a US Securities and Exchange Commission (SEC) filing.
BlackRock trimmed its holdings in Pinduoduo to 29 million shares in 2Q24, representing a 2.1% stake. Pinduoduo's share price rallied 8.3% at one point yesterday, and closed up 2.9% at US$128.51.
PDD Holdings shares gained 1.4% in premarket trading Wednesday.
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