London Stock Exchange

Specialist bank to list on London stock market




Bank of Cyprus has announced that it is applying for a standard listing on the London Stock Exchange.

The bank, which provides a range of commercial finance products and specialises in the business sector, will look to maintain its listing on the Cyprus Stock Exchange, but will no longer be listed on the Athens Exchange.

Bank of Cyprus revealed that the listing was in line with its long-term strategic commitment to list on a major European stock exchange to improve the liquidity of the bank’s stock.

"We are delighted to be applying for a listing on the London Stock Exchange, which marks another significant step in the bank's transformation,” said Dr Josef Ackermann, chairman of Bank of Cyprus.

“We believe that the bank, and its stakeholders, will benefit from the greater profile, liquidity and access to capital that a London listing offers.

“The London listing will also enhance the group's ability, as the largest banking and financial services group in Cyprus, to play a key role in supporting the growth of the Cypriot economy."

Dr Ackermann heads a board of newly appointed directors at Bank of Cyprus.

The bank revealed that a new holding company had been incorporated in Ireland to assimilate its listing on the London Stock Exchange.

Bank of Cyprus currently operates through 129 branches, four of which are based in the United Kingdom with one in the Channel Islands.

The bank is also a patron of the National Association of Commercial Finance Brokers. 

Leave a comment