A shareholder of Deutsche Bank (DB, Financial) is planning to sell approximately 16 million shares of the company. The sale price is expected to be around €16.01 per share, equivalent to $17.46, potentially generating total proceeds of about €256 million ($279 million). Goldman Sachs is reportedly arranging the transaction.
This move comes as Deutsche Bank's stock has risen over 30% this year. Recently, there has been a wave of stock sales from European companies, with transactions valued at nearly $11 billion being priced since early September. Investors are keen to capitalize on gains before the U.S. presidential election and the earnings season.
Several European banks, including Commerzbank, National Bank of Greece, and Santander Bank Poland, have experienced sell-offs. Deutsche Bank's CFO recently dismissed the possibility of bidding for Commerzbank after it received a takeover offer from Italy's UniCredit.
