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September 27, 2021

Bank of Cyprus sold almost 10 pc of BT to SIFs

Bank of Cyprus sold last weekend almost 10 per cent of Transilvania Bank shares, in amount of RON 368.1 (EUR 82.5 million) to financial investment companies, one of the buyers being SIF Moldova (SIF2) which took over 3.5 per cent of the titles, in exchange for RON 128.9 million (EUR 28.9 million), according to Mediafax. Following the operation, SIF Moldova stake of Transilvania Bank shares went up to 8.52 per cent.  Bank of Cyprus sold 9.99 per cent of Transilvania Bank shares during three deals on the stock exchange session on Friday, with a cumulated value of RON 368.1 million (EUR 82.5 million). Bank of Cyprus took over 9.7 per cent of BT shares in 2009, in exchange for EUR 58 million, and increased their stock to close to 10 per cent during the same year.  The deals by which the 9.99 per cent package of Transilvania Bank shares was transferred were performed for RON 1.67 per share, 7.73 per cent under the Thursday quotation on the major market, of RON 1.81 per share.

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