Banks, Financial Services, Investments, Latvia

International Internet Magazine. Baltic States news & analytics Wednesday, 23.05.2018, 21:57

Bicevskis: the fall 2012 not the most beneficial time to sell Citadele

Nina Kolyako, BC, Riga, 07.08.2012.Print version
This fall will not be the most beneficial time to sell Citadele banka, Latvian Commercial Banks Association President Martins Bicevskis told the LNT morning show "900 sekundes" today.

As reported, the government plans to assess the bank's sale in November, writes LETA.


The situation on global financial markets is still tense and investors are cautious. Therefore the offered price will not be the most favorable, pointed out Bicevskis.


Bicevskis explained that, to attract additional capital, the government could assess selling only a small share of Citadele shares this year. It is possible that the bank's shares could be offered on the stock market, writes LETA.


As reported, the Privatization Agency and the government's consultant Nomura International plc will come up with Citadele banka sales report.


The Privatization Agency currently owns 75% of Citadele shares, the European Bank for Reconstruction and Development – 25%.

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