FAST NEWS: BlackRock cuts Bilibili H-share stake below 5%
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BlackRock has reduced its stake in Bilibili Inc. from 5.28% to 4.44% by selling approximately 2.85 million shares, as disclosed in a Hong Kong Stock Exchange filing. This sale drops its holdings below the 5% threshold, eliminating the need for further disclosure unless the stake increases again. Such reductions are often viewed negatively, indicating potential pessimism about the company's future. Bilibili has faced consistent losses since its 2018 Nasdaq listing, although its revenue grew by 13.7% in the first half of this year. Following the news, Bilibili's shares fell by 5.6%.
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