BNPQF - Belgium reduces stake by a third in BNP Paribas through $2.3B shares sold
- A shareholder since 2008, Belgium offloaded $2.31B in BNP Paribas ( OTCQX:BNPQF ) shares thereby cutting its stake by almost a third, as cited by Reuters.
- Belgian state participation agency SFPI stated that it had placed 33M shares with investors and will not sell further shares for a period of 90 days.
- The agency retains a 5.1% stake in BNP Paribas and has expressed that it is looking to reduce its exposure to the financial services sector.
- "Following the transaction, SFPI-FPIM confirms its continued support of BNP Paribas and belief in the long-term strategy of the company," the agency commented.
- As per Refinitiv data, the Belgian state was BNP Paribas' number one investor, ahead of asset managers Amundi and BlackRock, with 7% and 6% respectively of the group's shares.
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Belgium reduces stake by a third in BNP Paribas through $2.3B shares sold