The Beirut Stock Exchange (BSE) released a statement by BLOM Bank that clarifies the trades on its listed shares as well on its Global Depositary Receipts (GDRs), performed by Banorabe S.A SPF, one of the bank’s major shareholders, during the months of June 2018 and July 2018, with the last trade ending on July 26th 2018.
According to the statement, Banorabe bought a total of 678,663 Blom Listed shares worth $7.08M. In addition, Banorabe sold 182,393 BLOM Global Depository Receipts (GDR shares) for $1.92M. It is also worthy to mention that both trades were approved by the central bank.
As a result, BLOM’s largest shareholders now are Bank of New York, grasping 34.37% of BLOM”s total capital as of June 30, 2018 and Banorabe S.A SPF 17.86% share of the bank’s capital as of July 26, 2018, compared to a share of 17.55% calculated in Q1 2018.