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2 institutional investors sell joint stake in Macedonia's Komercijalna Banka

East Capital Explorer Investments AB and affiliated company Salink Ltd. divested their entire 13.076% stake in Komercijalna banka AD Skopje, the bank said March 21.

The companies sold 298,003 Komercijalna Banka shares in a block transaction at a price of 3,750 Macedonian denars per share, for a total of almost 1.12 billion denars.

The shares were purchased by Macedonian companies Adora Inzenering, Granit Skopje, IGM-Trade Ilija and Industry Service Skopje. None of the four has a stake of more than 5%, the lender said.

Komercijalna Banka is listed on the Macedonian Stock Exchange, with 86.9% of its shares in free float prior to the transaction, according to the lender's website.

As of March 21, US$1 was equivalent to 50.08 Macedonian denars.