The Norwegian sovereign fund has reduced its stake in BBVA to 2.978%, meaning it is no longer a significant shareholder of the entity, according to the records of the National Securities Market Commission (CNMV).
The participation of Norges Bank – the Central Bank of Norway that manages the sovereign fund – is mainly articulated through 2.950% in direct voting rights and 0.028% through financial instruments. In total, it controls around 177.6 million shares, according to Europa Press.
At the price at which BBVA shares are currently trading, of 8.2 euros per share, the stake has an estimated value of 1,471 million euros.
Currently, BBVA’s significant shareholders are Blackrock, which controls 5.917% of the share capital, and Capital Research and Management Company, manager of Capital Group that has recently acquired a 3.010% stake in the entity.
It should be noted that BBVA has seen a revaluation of 46.5% so far this year, which has allowed it to reach 8.28 euros per share, exceeding its historical maximum of February 2007, if adjusted for the payment of dividends. Without this adjustment, the stock reaches August 2015 highs.