Star Entertainment Says JPMorgan Chase Raises Stake; Shares Rise 8%

MT Newswires Live

01-14

Star Entertainment Group (ASX:SGR) received notice that JPMorgan Chase and its affiliates increased their stake in the company to about 182 million shares from 144.9 million shares, according to a Tuesday filing with the Australian bourse.

This brought the financial services firm voting power in the casino operator to 6.34%, the filing said.

The company currently has internal and regulatory restrictions that do not allow any entity to have over 10% voting power, the filing said.

Shares of Star Entertainment Group rose 8% in recent Tuesday trade.

Price (AUD): $0.14, Change: $+0.010, Percent Change: +8.00%

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