ServPRO reports that on the 31st of March 2016, the Bank of Cyprus announced that it is pursuing a premium listing on the London Stock Exchange (LSE) in the second half of 2016, subject to meeting the eligibility criteria.
It was noted in the press release that HSBC Bank PLC has been appointed as sole advisor and sponsor.
The Bank will maintain its listing on the Cyprus Stock Exchange; however, it intends to terminate its listing on the Athens Exchange as the Group no longer has banking operations in Greece.
The press release also highlighted the fact that a premium listing on the LSE will achieve one of the Bank’s objectives of listing on a major European stock exchange.
It is expected that the premium listing as well as potential inclusion in the FTSE UK Index series will enhance the Group’s visibility and share liquidity, according to the press release.
Furthermore, the press release noted that “the access to a greater pool of international capital, together with greater profile and visibility in the European financial markets, will help position the Group to play a key role in supporting the growth of the Cypriot economy”.
A premium listing on the LSE will result in a strict compliance with high standards of corporate governance and transparency which will further enhance the shareholder’s confidence in the Group.
Аccording to the company ServPRO
