A unit of Danish pension fund AP Pension acquired shares giving it a 12.87% stake in GrønlandsBANKEN A/S, the Greenland-based lender said May 31.

AP Pension Livsforsikringsaktieselskab acquired 87,628 shares in the bank, according to a filing. It now owns 231,628 shares, according to S&P Global Market Intelligence data, which shows that the bank has 1.8 million shares in trading.

The bank said in another filing the same day that Investeringsforeningen Nielsen Global Value reduced its ownership by the same number of shares, leaving it with 12,502 shares, or 0.69% of the share capital and voting rights in the bank.

Investeringsforeningen Nielsen Global Value is a Danish public mutual fund advised by Nielsen Capital Management.