BlackRock Increases Holding in GKP

By John Lee.

US-based investment giant BlackRock has increased its shareholding in Gulf Keystone Petroleum (GKP) to 5 percent, up from 4.89 percent.

Shares in the company have risen 35 percent since the start of the year.

In 2016, GKP announced that it was in default on its debt obligations, which led to a restructuring in which bondholders took control of the company.

(Source: GKP)

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