Priorbank Acquires Shares from the Republic of Belarus
State-owned shares successfully acquired by Priorbank through a closed deal
In a significant development for the Belarusian banking sector, Priorbank has announced the acquisition of shares from the Republic of Belarus. The deal, worth over 162.7 million Belarusian rubles, represents 6.31% of Priorbank's charter capital.
The acquisition involves the purchase of 7.8 million ordinary shares, with an expected price per preferred share of 15.07 Belarusian rubles. Notably, this price is above Priorbank's balance sheet value, signifying a premium for the shares.
The deal, when converted to USD, is approximately $53.7 million. Priorbank was also expected to buy an additional 2,220 preferred shares from the state for a total of 33,400 Belarusian rubles.
The article detailing this acquisition was written by Oksana Kuznetsova, a journalist. However, no further details about the preferred shares deal were disclosed, such as the financial details or the reasons behind the sale.
It is worth noting that this is not the first share buyback deal by Priorbank. In the past, the bank has completed a share buyback deal, with the price per share in that deal being 20.96 Belarusian rubles.
For those seeking more specific details about the terms and conditions of the recent deal, it is recommended to refer to Priorbank's official communications or press releases, the National Bank of Belarus or relevant government announcements, financial news outlets covering Belarusian banking or corporate transactions, or stock exchange filings if Priorbank is listed.
This acquisition marks a significant move for Priorbank, and it will be interesting to see how this development affects the bank's future operations and its position in the Belarusian banking market.
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