The Bank of Cyprus will definitely re-list on the Athens Stock Exchange (ASE) after a seven-year lack, complying with the authorization of two resolutions by buyers at an Extraordinary General Meeting on September 13, 2024. The motion is anticipated to enhance provide liquidity and enhance the monetary establishment’s presence amongst financiers.
Takis Arapoglou, Chairman of the Bank of Cyprus, highlighted that the appreciable enhance within the monetary establishment’s share price over present years schedules not simply to excessive price of curiosity nonetheless likewise to the monetary establishment’s efficient change, stable effectivity, and enthusiastic aims. The monetary establishment has really likewise had the power to award buyers with rewards and a share buyback program, mirroring its sturdy annual report and lasting success.
Arapoglou saved in thoughts that whereas liquidity of the monetary establishment’s shares has really boosted slowly, it stays decreased, limiting monetary funding base improvement. The re-listing on ASE intends to resolve this by growing the monetary establishment’s account and making it further eye-catching to a wider group of financiers.
The delisting from the London Stock Exchange (LSE) and re-listing on ASE, which will definitely work on September 23, 2024, was sustained by virtually consentaneous investor authorization. The LSE delisting will definitely happen on September 18, 2024, whereas buying and selling on the Cyprus Stock Exchange will definitely proceed usually. The share buyback program will definitely likewise proceed through the Cyprus change.
Arapoglou pressured that this tactical motion turns into a part of the monetary establishment’s extra complete initiatives to enhance its capitalist attract and financial account, construction on present campaigns just like the Investor Awareness Event saved in June 2023.
