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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 email@example.com; @_cristinaroca
(END) Dow Jones Newswires
March 15, 2019 08:21 ET (12:21 GMT)
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