EBRD Sells Stake in Bank of Cyprus

The EBRD, the last legacy shareholder of Bank of Cyprus, has sold its 5.1% stake, held since 2014, at a price of €7.20 per share.

According to a statement from Bank of Cyprus, there was significant interest from institutional investors, with the final buyers being primarily long-term investors.

Bank of Cyprus noted that this interest reflects the confidence of foreign institutional investors in both the bank and the Cypriot economy, emphasizing that the sale price was satisfactory, reaching approximately 1.2 times the tangible book value.

Source: CNA