articles | 16 January 2017

BoC’s London listing imminent

The countdown for the London listing of the Bank of Cyprus (BoC), expected to take place on January 19, 2017 has begun.

Already the trading of BoC shares in the Athens Stock Exchange has been halted, and we await for data to surface on howmany of the 40,000 shareholders who were in Greece have chosen to trade their new shares in the London or Cyprus stock exchange.

The same is true of the approximately 66,000 BoC shareholders in Cyprus; weawait for data to ascertain how many of these shareholders will continue trading in the London or Cyprus stock exchange.

The 40 thousand shareholders in Greece make up approximately 26% of the total share capital of the bank, while the 66,000 in Greece make up the other 74%.

The issues that are to be announced are the following:

1.     Announcement of the total number of shares to be issued and listed.

2.     Announcement of the BoC’s “home member state”, which will be Ireland.

3.     Announcement regarding the “takeover law”

Immediately after January 19 the share statements with a percentage larger than 3% will be gathered and announced.

The Bank of Cyprus will continue to be under the supervision of the relevant Cyprus authorities (Cyprus Securities and Exchange Commission, Central Bank, CSE), along with the corresponding securities and exchange authorities of Ireland and the United Kingdom, and the European Central Bank.

Source: InCyprus

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