Insider Business Bank shares record unusual movement

Bank shares record unusual movement

The shares of the island’s two listed commercial banks have recorded unusual movement over the recent couple of days.

Specifically, Bank of Cyprus and Hellenic Bank shares are changing hands with the main feature being that these are purchased from organisations and individuals who already have some kind of a connection with the lenders.

For instance, new chairman of the board of Bank of Cyprus Takis Arapoglou purchased shares worth €80,000 over the last couple of days. He did so through four different orders and even though the amount is not that high, it nonetheless sent out a message, according to insiders.

As a matter of fact, Arapoglou’s transactions were carried out at a time when the bank’s stock was steadily rising. It was as low as 0.97 euros back in February and it now stands at 1.7 euros.

On the other hand, a small number of BoC shares have been distributed by Canadian TD Asset Management Fund over the last 48 hours with its percentage falling from 4.01% to 3.99%.

TD had purchased shares at the lender’s 2014 capital increase. At the same time, Caius Capital Fund seems to be also working on establishing a prominent position in Hellenic through the purchase of shares, but mostly CFDs.

Share-based developments over the last 24 hours have also been recorded at Hellenic Bank, with Senvest Fund proceeding with the purchase of 1,750,000 additional shares worth 0.87 euros each.

This means that it now controls 5.07% of the share capital from 4.64% it held before. However, it is unclear whether Senvest will also contest a seat on the board of directors at Hellenic’s general meeting set for Wednesday August 28.

Read more:

 

https://in-cyprus.com/ackermann-renews-confidence-in-bank-of-cyprus-by-purchasing-additional-400000-shares/

Top Stories

Twice as many tests in Cyprus than UK per 100k population, 10x that of Holland – report

According to data from the latest report by the Health Ministry's Epidemiological Surveillance Unit, as of June 2, Cyprus has performed 13,734 tests per...

No new Covid-19 cases in Cyprus on Thursday

No new coronavirus cases were reported in Cyprus on Thursday after 1996 tests, in what Health Ministry experts described as "a brilliant result" at...

EU considers broadening scrutiny of foreign investments

The European Union's executive has proposed broadening scrutiny of foreign investments in the bloc, according to a public draft document, part of efforts to...

Wedding industry pleads for rethink on gathering restrictions

The government's decision yesterday to entirely lift the ban on gatherings on September 1 has taken the wedding industry by surprise, with a group...

Fiscal Council urges caution with public funds

    The government should be cautious in channeling public funds until there is clarity concerning the development of the crisis caused by the coronavirus outbreak, ...

Taste

Poulles (Υoung kolokassi)

Either you thrash the coriander seeds in a mortar, without making them into dust, or you gradually crush them in a blender. Remove the edges...

Pork cooked in wine

Crush the coriander seeds in a pestle and mortar or pulse-blend in a blender, taking care not to over-grind. Put the meat in bowl (not...

Lefkaritikos tavas – O ‘protinos’

Wash and dry the meat and rice separately. In a ‘tava’ (oven proof deep clay pot) first put a layer of five-six pieces of meat...

Local cuisine: An introduction

Rich in fresh ingredients and tasty herbs, offers the very best of Mediterranean culinary delights. Head out to a tavern and feast on a...