Lamesa Holdings is associated with Renova, a Russian controlled company.

The other major shareholders in the Bank of Cyprus are as of now: Cyprus Popular Bank (9.6%), TD asset management (5.2%) and the European Bank of Reconstruction and Development (5%).

Besides Lamesa Holdings a few other major shareholders have bought recently shares in the Bank. Wilbur Ross, vice chairman of the board, bought 6.3m shares in October paying an amount close to €1m and, Michalis Spanos, also member of the board, bought 1.2m shares in November.

Furthermore, the chairman of the board, Joseph Ackermann, and, Ioannis Zografakis, member of the board, have also bought shares recently in the Bank.

There are 8.9b shares of the Bank listed on ASE worth around €1.25b and 1.8b shares listed on CSE worth around €373m. The stock started trading on both exchanges on December 16, 2014 at an initial price of €0.24 whereas the price of the share in the past week averaged €0.15.

Having appointed HSBC as a consultant the Bank is now in the process of enlisting its shares on the London Stock Exchange (LSE) in an attempt to increase capital and liquidity. In the case the Bank achieves to be listed on LSE then it is also expected to delist from ASE since the Bank has currently no operations in the country.

Source: InCyprus