Wellington Management Surpasses 5% Stake In Bank Of Cyprus

by THEFUTURE.TEAM

September 9, 2025

Wellington Moves Into A Significant Position

London-based investment firm Wellington Management Group LLP has elevated its influence in Bank of Cyprus by surpassing the 5% threshold in voting rights. The firm now holds 5.87% of the bank’s voting power, equivalent to 25,581,995 shares out of a total of 435,686,031. This strategic increase, reported through a TR-1 notification, marks a decisive step up from its previous 3.99% holding.

Comprehensive Stake Expansion

The updated disclosure, submitted to both the issuer and the Central Bank of Ireland, details that Wellington’s enhanced position is secured entirely through shares and does not involve any derivatives or instruments with similar economic impacts. The expanded stake is managed through various custodians and nominees, including Brown Brothers Harriman, Chase Nominees Ltd., Citibank NA, Goldman Sachs Securities (Nominees) Ltd., ROY Nominees Limited, and State Street Nominees Ltd.

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Implications For Bank Of Cyprus

The formal notification, completed in London on September 5, 2025, confirms that Wellington Management Group LLP, along with its related entities Wellington Group Holdings LLP and Wellington Investment Advisors Holdings LLP, now directly or indirectly holds a consolidated position of 5.87% in the bank. Notably, Wellington Management Company LLP alone accounts for 5.11% of this stake. This move reflects significant institutional confidence and could impact the bank’s strategic decisions amidst evolving market conditions.

Strategic Outlook

As Bank of Cyprus navigates the increasingly complex financial landscape, the rising influence of Wellington Management underscores a broader shift towards stronger institutional engagement in key financial institutions. This development not only enhances Wellington’s strategic footprint but also highlights potential shifts in investor sentiment that could shape the future governance and direction of the bank.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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