Foreign shareholders exit Macedonia’s Komercijalna Banka

By bne IntelliNews March 22, 2018

A total of 164,332 shares of Macedonia’s largest bank Komercijalna Banka were traded on the Skopje bourse on March 22 via two block transactions worth a combined MKD616.24mn (€10.mn), the bank said.

This is the second major transaction of Komercijalna Banka’s shares in the last two days.

The sellers are foreign investment funds and its clients, while the purchasers are local companies, fuel retailer Makpetrol, Industry Service, M.G. Fashion. Lean, ZSF-KOM and INT Trade.

The shares were sold at price of MKD3,750 apiece, Komercijalna Banka said in bourse filing.

The names of the sellers were not provided, as none of the purchasers exceeds the threshold of 5%.

A day earlier, East Capital Explorer Investments AB and its associated company Salink Limited sold 13.076% of Komercijalna Banka's shares, or a total of 298,003 bank shares, for over MKD1.1bn. 

In November 2017, the European Bank for Reconstruction and Development (EBRD) sold its 5.245% stake in Komercijalna Banka.

Komercijalna Banka, the largest bank in Macedonia in terms of assets, posted unconsolidated net profit of MKD820.6mn in 2017, 5.3% up from a year earlier.

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