Summary by Moomoo AI
BlackRock, Inc., a global investment management corporation based in Delaware, has filed a Schedule 13G with the Securities and Exchange Commission (SEC) on October 21, 2024, indicating a significant ownership stake in PDD Holdings Inc. The filing reveals that BlackRock now beneficially owns 132,044,680 shares of PDD Holdings' common stock, which represents 9.5% of the company's class of securities. This level of ownership classifies BlackRock as a major shareholder, with sole voting and dispositive power over the shares held. The filing was made in accordance with Rule 13d-1(b) under the Securities Exchange Act of 1934, which is typically used by passive investors to report their holdings. PDD Holdings Inc., known for its e-commerce platform Pinduoduo, has its principal executive offices located in Dublin, Ireland. The filing also includes a list of BlackRock's subsidiaries and a power of attorney, detailing the authority granted to certain individuals to act on behalf of BlackRock in fulfilling reporting obligations.
