BoC Chairman Takis Arapoglou bulk-buys shares in lender

The chairman of the Board of Directors of the Bank of Cyprus, Takis Arapoglou, is making a barrage of purchases of Bank of Cyprus shares, Kathimerini Cyprus reports.

He has been buying Bank of Cyprus shares every day since Monday, more than 10,000 shares at a time.

In total, he has bought 43,500 shares of the bank in three days.

He specifically purchased 10,000 shares of Bank of Cyprus stock on Monday for 1.53 euros each, according to a statement to the Cyprus Stock Exchange. In other words, the Greek banker paid a total of €15,330 for the shares on Monday.

Then, on Tuesday, the former head of the Hellenic Bank Association purchased 20,000 shares at an average cost of €1.56 per share. That is, he paid a total of €31,325 for the shares on Tuesday.

Finally, on Wednesday, at an average cost of €1.65 per share, he purchased 13,500. In other words, the former chairman and chief executive of the National Bank of Greece then spent a total of €22,288 on Wednesday.