Bank of Cyprus Returns to Athens Stock Exchange

08:56 24/9/2024 - Πηγή: iEfimerida

In a significant milestone for the bank and the Greek financial market, the Bank of Cyprus made a triumphant return to the Athens Stock Exchange on Monday. This marks the first time the bank

has been listed on the Greek bourse in seven years.

The relisting of the Bank of Cyprus is a testament to the growing confidence in the Greek economy and the increasing attractiveness of the Athens Stock Exchange to international investors.

The move also aligns with the bank's strategic objectives to enhance its competitiveness and strengthen its position within the European Union.

Takis Arapoglou, Chief Executive Officer of the Bank of Cyprus, expressed his enthusiasm for the relisting.

"This is a momentous occasion for the bank. Our return to the Athens Stock Exchange reflects our commitment to Greece and our belief in the long-term prospects of the Greek economy."

The bank's integration into the Athens Stock Exchange is expected to provide several benefits, including increased visibility among regional investors, enhanced liquidity for its shares, and easier comparison with other regional banks.

Additionally, the listing could attract new investors and potentially lead to a larger customer base.

The initial price of the Bank of Cyprus shares on the Athens Stock Exchange was set at €4.78 per share, resulting in a market capitalization of approximately €2.12 billion.

However, there is anticipation for increased volatility in the coming days due to the planned sale of a 4.8% stake held by Cyprus Popular Bank Public (in liquidation).

The return of the Bank of Cyprus to the Athens Stock Exchange is a positive development for both the bank and the Greek financial market. It signifies a renewed confidence in the country's economic recovery and underscores the growing attractiveness of the Athens Stock Exchange as a platform for investment.

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