Templeton purchases shares of AIK Banka - Nicovic's share is melting

During the last four trading days, nearly 2% of the shares of Nis-based AIK Banka changed the owners. In that way, these shares have once again become the most traded securities on the Belgrade Stock Exchange and replaced NIS in that position.

The buyer of the first big package of shares of 0.5% was U.S. Templeton whose family of funds has now increased its ownership share of that most profitable domestic bank to 4.4%.

The shares were sold by Irva Investicije, the company owned by local businessman Djordjije Nicovic who also owns Dorcol Inzenjering, the company that has been selling the biggest number of AIK's shares over the last few months until it has almost completely liquidated the position.

Earlier this year, on the occasion of the mass sales of AIK Banka's shares, Nicovic stated that the sales were not a consequence of his decision but the fact that he had been taking out loans in order to finance projects, while the bank had been taking the shares as the guarantees and activated them after the loans had not been repaid.