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 relocation is anticipated to improve supply liquidity and boost the financial institution’s exposure amongst capitalists.
Takis Arapoglou, Chairman of the Bank of Cyprus, highlighted that the substantial rise in the financial institution’s share cost over current years schedules not just to high rates of interest however additionally to the financial institution’s effective change, solid efficiency, and enthusiastic objectives. The financial institution has actually additionally had the ability to award investors with returns and a share buyback program, showing 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 continues to be reduced, restricting financial investment base development. The re-listing on ASE intends to resolve this by improving the financial institution’s account and making it a lot more appealing to a wider team of capitalists.
The delisting from the London Stock Exchange (LSE) and re-listing on ASE, which will certainly work on September 23, 2024, was sustained by virtually consentaneous investor authorization. The LSE delisting will certainly happen on September 18, 2024, while trading on the Cyprus Stock Exchange will certainly proceed customarily. The share buyback program will certainly additionally proceed with the Cyprus exchange.
Arapoglou stressed that this critical relocation belongs to the financial institution’s more comprehensive initiatives to improve its capitalist charm and monetary account, structure on current efforts like the Investor Awareness Event kept in June 2023.
