By Stelios Orphanides
Bank of Cyprus’s vice chairman Wilbur Ross acquired on Wednesday a total of 6,363,050 shares of the lender’s share via the WLR Recovery Fund V.L.P., the bank said.
Ross paid €0.1662 per share, Bank of Cyprus said in a statement on the website of the Cyprus Stock Exchange. In August 2014, participants in the bank’s capital increase, including a group of investors led by the American billionaire, paid €0.24 per share.
While the Ross-led group owes below 19 per cent of the bank’s 8,922,944,533 outstanding shares, the billionaire’s personal stake in the bank’s equity is below 5 per cent. The recent share purchase increases Ross’s stake in the bank by less than 0.1 percentage point.
Bank of Cyprus’s share opened today at €0.17 and was traded at 11:27 a.m. at €0.169, according to the CSE.