Insider Business Bank of Cyprus gets new major shareholder

Bank of Cyprus gets new major shareholder

London-based alternative investment manager Caius Capital LLP is Bank of Cyprus’ new major shareholder with 3.09% or 13,785,707 voting rights in its hands.

However, Caius did not acquire shares of the Bank through standard practice but invested instead through Contracts of Difference (CFD). Derivative contracts essentially allow investors to consider whether the price of a share will rise or fall in the future and move accordingly, either by selling or buying.

In the case of Caius, which was set up by Antonio Batista and William Douglas, it appears that the investment fund’s move into Bank of Cyprus is a long-term prospect since the products they  acquired and could be converted into shares expire in May 2020 and June 2021 but with the right to an automatic renewal.

At the same time, the move shows that the fund considers the bank’s share will move upwards in the future. This is a particularly important move for the Bank’s share which saw its value fall significantly to even below one euro over the past months, before getting stable again and rising to about €1.3.

Bank of Cyprus’ total number of shares today amount to 446,199,933. Other shareholders with more than 3% are Lamesa Investments (9.27%), EBRD (5.02%), Laiki Bank (4.81%), TD Asset Management (4.01%), Eaton Vance (3.67%), Senvest Management (3.49%) and Osome Investments (3.03%).

Caius Capital is an alternative investment manager focusing on distressed and special situations long and short investments across the capital structure. Their investment universe comprises corporate issuers, financial institutions and sovereigns predominantly within the region of Europe, the Middle East and Africa.

 

Read more:

https://in-cyprus.com/bank-of-cyprus-posts-e95-million-profit-in-1q-2019/

 

Top Stories

Mother of invention: the new gadgets dreamt up to fight coronavirus

Driving to work at his factory to the west of London last week, designer Steve Brooks had coronavirus on his mind. What could he...

Coronavirus decimates taxi industry in Cyprus

Taxi drivers in Cyprus see their livelihood evaporating as the holiday island is all but shut down to try to slow the spread of...

Another 212 booked for breaking stay at home decree

Another 212 people were booked for breaking the stay at home decree overnight, a police spokesman told CyBC radio on Wednesday morning. He added that...

Latest on the spread of the coronavirus around the world

Last update 01/04/2020 01:09 The U.S. government raced to build hundreds of makeshift hospitals to ease the strain on overwhelmed healthcare systems as the United...

Cloudy with sunny spells and local showers

Today will be cloudy with sunny spells with isolated showers or thunderstorms expected. Temperatures will reach 22 C inland and on the coast and 12...

Taste

Village olive pie

Mix the yeast with the lukewarm water and put it aside for about 12-15 minutes to settle.  Sift the flour with the salt into...

Skordalia (Garlic paste)

Rinse the potatoes and place, unpeeled, in a saucepan. Cover with water, add salt and allow to simmer for 20-30 minutes until soft. Drain,...

Village salad

A must-have with every meal is a village salad. You will find it in every tavern or greek restaurant you visit in Cyprus. Make...

Courgettes with eggs

Heat the oil in a frying pan and fry the courgettes at a medium heat until they soften. Add salt and add the eggs....