AB CarVal Investments sells 3% of its shares in the Bank of Cyprus for €4.20 per share

12:18 - 09 October 2024

Financial Services Reporter

AB CarVal Investments has proceeded with the sale of shares corresponding to 3% of Bank of Cyprus, according to an announcement from the global alternative investment manager.

More specifically, AB CarVal Investments announced that it has successfully completed the sale of 13.5 million Bank of Cyprus shares, which correspond to approximately 3% of the share capital, through a placement to institutional investors with accelerated bookbuilding.

The price was set at €4.20 per share and Merrill Lynch International and Jefferies acted as coordinators.

After the disposal of the above securities, AB CarVal Investments owns approximately 27 million ordinary Bank of Cyprus shares Cyprus, which correspond to approximately 6% of the share capital. These are subject to a 60-day lockup.

(Source: InBusinessNews)

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