The Surinamese government will dispose of 145,000 shares of Hakrinbank N.V. through a public offering. This measure stems from the Banking and Credit Supervision Act 2023, which stipulates that no shareholder may hold more than 20% of the issued capital in a bank. Currently, the State is the largest shareholder with 34.5% and must reduce its stake by July 4, 2025.
According to Finance and Planning Minister Stanley Raghoebarsing, this action is in line with international standards for financial supervision, which were tightened worldwide after the 2008 global credit crisis. "Although the government has always had a substantial stake in Hakrinbank, the new arrangement forces us to diversify. At the same time, we thus guarantee that no party acquires too dominant an influence," Raghoebarsing said, stressing that the Central Bank of Suriname (CBvS) will ensure due process.
Rafiek Sheorajpanday, managing director of Hakrinbank, sees the sale as an important step in the professionalization of the banking sector. "This transaction strengthens our governance and compliance and supports the desire of retail investors to achieve more diversified ownership," he stated.
Shares with a par value of SRD 0.15 are offered at a minimum of SRD 1,200 each. Both individuals and companies, both national and international, can subscribe digitally or at any branch of Hakrinbank until Monday 30 June 2025 at the latest. After the end of the subscription period, a summary of bids will be drawn up, after which allocation will follow within 14 days. Successful bidders will then have two weeks to pay the full purchase price.
With this emission, the government underscores its commitment to transparency and equal application of laws and regulations, even when the government itself acts as a market participant.
