Bank of Cyprus eyeing Athens Stock Exchange return as it "considers all options"

Marios Adamou 08:17 - 18 July 2024

Financial Services Reporter

The Bank of Cyprus appears to be considering its return to the Athens Stock Exchange after seven years, although no final decisions have been made yet.

A Bank of Cyprus indirectly confirmed these thoughts to InBusinessNews, while underlining that "all options are being considered."

Specifically, when asked whether the Bank of Cyprus is considering re-listing on the Athens Stock Exchange, a competent source of the bank indicated that "as we have said in the past, the bank's goal is to increase the marketability of the stock and investment interest."

"The bank's profitability and the 30% dividend distribution make it an attractive investment option for investors," he added, underlining that "in this context, all options are being considered."

Withdrawal in 2017

It is noted that Bank of Cyprus withdrew from the Athens Stock Exchange on 9 January, 2017.

This was preceded by the decision to list the share of the parent company Bank of Cyprus Holding plc on the London Stock Exchange, with trading of the share beginning on 17 January of the same year.

It is worth mentioning that during the last trading day of the Bank of Cyprus share on the Athens Stock Exchange, the closing price reached 0.162 cents, registering an increase of 2.53%, while 1,462 transactions were carried out with the share trading volume reaching 15.82 million and the turnover amounting to €2.5 million.

It is also noted that this had not been the first time that the Bank of Cyprus withdrew from the Athens Stock Exchange, as it had done so a few years earlier, more specifically in 2013, after the events of March 2013 and the deposits’ haircut.

Then, however, its delisting from the Athens Stock Exchange lasted only 22 months, with its stock re-listed on 16 December 2014 with the opening price of trading set at €0.24.

(Source: InBusinessNews)

Bank of Cyprus eyeing Athens Stock Exchange return as it "considers all options"

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