The essential problems for the listing of Bank of Cyprus shares on the Athens Stock Exchange have actually been fulfilled, according to a statement from the appropriate listing and market procedures board.
Specifically, the board accepted the “listing of 443,457,297 ordinary shares of the company ‘Bank Of Cyprus Holdings Public Limited Company’ (ISIN: IE00BD5B1Y92) on the Main Market of the Athens Stock Exchange, in accordance with Article 2, Paragraph 4 of Law 3371/2005”.
Trading of the business’s shares is readied to begin on Monday, September 23, 2024.
This action complies with a choice by the Bank of Cyprus shareholders on September 13 to accept the listing of the financial institution’s normal shares on the Athens Stock Exchange (ATHEX), pending a delisting from the London Stock Exchange (LSE).
The investor ballot happened throughout a remarkable basic conference (EGM) at the financial institution’s head office in Nicosia.
Before the ballot happened, Bank of Cyprus chairman Takis Arapoglou specified that the financial institution had actually changed right into a solid establishment with top notch possessions, solid resources and liquidity, and lasting earnings.
This, he stated, made it possible for returns and share buybacks, enhancing its share cost.
Moreover, while the financial institution’s London Stock Exchange listing gave global presence, Arapoglou discussed that re-listing on the Athens Stock Exchange can improve liquidity and bring in a wider capitalist base.
“The board of directors believes that delisting from the London Stock Exchange and re-listing our shares on the Athens Stock Exchange offers the potential to enhance the liquidity of our shares and the recognition of the group among a wider group of interested investors, benefiting both shareholders and the bank itself,” he stated.
Additionally, he highlighted the advantages of less complicated contrasts with Greek financial institutions and accessibility to resources.
Finally, it was kept in mind that the financial institution will certainly keep its listing on the Cyprus Stock Exchange while remaining to bring in financiers.
