Retail investors in the embattled Co-operative Bank will have a rare opportunity to buy and sell shares through a private share auction next week.
Hundreds of small private investors who are estimated to own between 5 per cent and 15 per cent and who remain shareholders after the £1.5 billion restructuring at the end of 2013, are being invited to take part in the auction by Asset Match, the online marketplace for trading in UK unquoted companies.
The Co-op Group retains about 20 per cent of the bank having ceded control to bondholders through a debt-for-equity swap after the black hole in the bank’s finances emerged.
The biggest are hedge funds, including Silver Point and Perry Capital, the American investors, but there remain private investors