The Bank of Cyprus on Tuesday announced that it has repurchased 50,000 of its ordinary shares with a nominal value of €0.10 each.
The transactions were executed on November 18 on the Cyprus Stock Exchange (CSE) and the Main Market of the Athens Stock Exchange (ATHEX) through the company’s broker, the Cyprus Investment and Securities Corporation Limited (CISCO).
The company confirmed that “the total shares purchased of 50,000 will be cancelled”.
This move aligns with the company’s ongoing strategy to optimise its capital structure and enhance shareholder value.
Vanguard Wellington Fund increases stake in Bank of Cyprus
Separately, Vanguard Wellington Fund announced that it now holds a 4.75 per cent stake in the Bank of Cyprus.
The institutional investment fund’s shareholders include prominent names such as Brown Brothers Harriman, Chase Nominees Ltd., Citibank NA, Goldman Sachs Securities (Nominees) Ltd., ROY Nominees Limited, and State Street Nominees Ltd.
Wellington recently acquired additional shares from the package divested by the investment firm CarVal, further solidifying its position in the bank.
Meanwhile, Senvest Management holds the largest stake in the Bank of Cyprus, with 9.4 per cent ownership, following its purchase of 6 per cent of the shares once belonging to the now-defunct Laiki Bank.
Another major shareholder, Lamesa Holdings S.A. (Renova Group), retains a 9.27 per cent stake. However, its accounts and investments remain frozen due to sanctions imposed by the United States and the European Union against Moscow.
