The Bank of Cyprus will certainly re-list on the Athens Stock Exchange (ASE) after a seven-year lack, complying with the authorization of 2 resolutions by investors at an Extraordinary General Meeting on September 13, 2024. The action is anticipated to improve supply liquidity and boost the financial institution’s presence amongst financiers.
Takis Arapoglou, Chairman of the Bank of Cyprus, highlighted that the considerable boost in the financial institution’s share rate over current years schedules not just to high rate of interest however likewise to the financial institution’s effective change, solid efficiency, and enthusiastic objectives. The financial institution has actually likewise had the ability to award investors with rewards and a share buyback program, mirroring its strong annual report and lasting success.
Arapoglou kept in mind that while liquidity of the financial institution’s shares has actually boosted slowly, it stays reduced, restricting financial investment base development. The re-listing on ASE intends to resolve this by increasing the financial institution’s account and making it extra eye-catching to a wider team of financiers.
The delisting from the London Stock Exchange (LSE) and re-listing on ASE, which will certainly work on September 23, 2024, was sustained by almost consentaneous investor authorization. The LSE delisting will certainly take place on September 18, 2024, while trading on the Cyprus Stock Exchange will certainly proceed customarily. The share buyback program will certainly likewise proceed via the Cyprus exchange.
Arapoglou stressed that this tactical action becomes part of the financial institution’s more comprehensive initiatives to improve its capitalist allure and economic account, structure on current campaigns like the Investor Awareness Event kept in June 2023.
