Bank of Cyprus intends to pursue a premium listing on the London Stock Exchange
Bank of Cyprus has issued an announcement to reveal its intention to pursue a premium listing on the London Stock Exchange (“LSE”).
The Group also intends to maintain a listing on the Cyprus Stock Exchange. The Group does not intend to maintain a listing on the Athens Exchange, as it no longer has banking operations in Greece.
According to the Bank, a premium listing on the LSE fulfills one of the Bank’s objectives of listing on a major European stock exchange. The listing and, subject to meeting the eligibility criteria, potential inclusion in the FTSE UK Index series will enhance the Group’s visibility and share liquidity. The access to a greater pool of international capital, together with greater profile and visibility in the European financial markets, will help position the Group to play a key role in supporting the growth of the Cypriot economy. Finally, adherence to the high standards of corporate governance and transparency required for a premium listing on the LSE will further enhance the confidence of all stakeholders in the Group.
The Bank is currently working towards a listing in the second half of 2016, subject to relevant approvals, an assessment of various technical aspects and market conditions. HSBC Bank plc has been appointed as sole advisor and sponsor.
The Bank informs that announcements will be made in due course.
Source: Bank of Cyprus – BOC Listing Announcement
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