Bank of Cyprus plans to switch to Athens listing from London next month
Bank of Cyprus will switch its stock market listing to Athens from London next month, subject to shareholder and regulatory approval, the lender has said.
The bank has called a shareholders meeting in Nicosia on September 13 to approve the move, it said, adding that the company plans to list its shares on the Athens Stock Exchange on September 23.
Bank of Cyprus expects its ordinary shares on the London Stock Exchange will be suspended from trading at the end of business on September 18, and the delisting will be effective September 19.
The Cypriot bank, which listed in London in 2017, has said the Athens bourse offers it the opportunity to boost its visibility in a market more complementary to that of the company.
“Trading in the more focused ecosystem of ATHEX and the increased potential for peer comparison has the potential to attract long term institutional holders to the company,” according to the bank. [Reuters]
