BlackRock crosses a threshold of participation in Societe Generale

New York-based asset management company BlackRock, Inc. has fallen below the 5% voting rights threshold within Société Générale. On November 7, 2024, BlackRock held 43,736,885 shares on behalf of its clients and funds, or 5.46% of the capital but only 4.93% of the voting rights. This decline is the result of a sale of shares on the market and a reduction in shares held as collateral.

The statement, received by the regulator on November 8, 2024, states that BlackRock acts at its discretion unless otherwise requested by its clients. In terms of numbers, the shares held include 3,092,930 ADRs and several CFD contracts with no expiry. BlackRock also states that it owns additional shares not included in the main calculation because clients retain voting control over them.