Red 5 Limited (AU:RED) has released an update.
Red 5 Limited has announced that UBS Group AG and its related entities have become a substantial holder in the company, controlling a 6.63% voting power through 451,008,351 ordinary shares. The financial giants acquired various interests in Red 5 Limited’s shares through different branches and fund management entities, with UBS Securities Australia Ltd holding the largest number at over 126 million shares. This strategic move by UBS Group AG indicates a significant investment in the mining company, reflecting confidence in Red 5 Limited’s market potential.
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