The Bank of Cyprus returned to the Athens Stock Exchange after 7 years, on Monday, marking another milestone for the bank according to its chief executive, Takis Arapoglou. The Bank is now returning to the Greek stock exchange under the ticker BOCHGR.
The bank’s integration into the Athens Stock Exchange reflects the growing reputation of the Greek market, which mirrors the ongoing development of economic activity. This move is the result of engagements with investors and analysts, with shareholders also approving the transfer to the Athens market.
As noted, the aim is to further enhance the bank’s competitiveness by establishing it firmly within the framework of the European Union.
On his part, the head of the Athens Stock Exchange, welcomed the Bank of Cyprus to the Greek stock market.
Today, 443,457,297 shares of the Bank of Cyprus were made available to the Greek stock market at an initial price of 4.78 euros per share. This sets the market capitalization at approximately 2.12 billion euros, with expectations for increased dispersion in the coming days.
This is largely due to the planned sale of the 4.8% stake held by Cyprus Popular Bank Public (in liquidation), a move that could be mirrored by other shareholders.
The long-term benefits of listing on the Athens Stock Exchange include enhancing the group’s profile among the relevant regional investor base, making it easier for investors to compare the bank’s performance with that of regional banks.
