04:30 PM EDT, 10/14/2024 (MT Newswires) -- An unidentified Deutsche Bank ( DB ) shareholder is proposing to sell around 16 million of the German lender's shares, Bloomberg reported on Monday, citing a person familiar with the matter.

The agreement is expected to set a price of 16.01 euros ($17.46) per share and the sale is anticipated to generate about $279 million in gross proceeds, as estimated by Bloomberg.

The deal, which reportedly is being conducted by Goldman Sachs, is taking place at a time when the shares of the German bank have seen a gain of over 30% this year, according to the news outlet.

Deutsche Bank ( DB ) did not immediately respond to a request for comment from MT Newswires after normal business hours Monday night in Germany.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.

Price: 17.45, Change: +0.01, Percent Change: +0.03