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19 January 2017
Cyprus' largest bank starts trading shares on London Stock Exchange
NICOSIA, Cyprus (AP) — Cyprus' largest bank says its shares have started trading on the London Stock Exchange.
Bank of Cyprus Holdings says more than 446,000,000 shares valued at 0.10 euros (11 cents) each have been admitted to the LSE's standard listing and began trading Thursday.
The bank said the listing will improve liquidity in its stock and attract more long-term investors while boosting stakeholder confidence.
The listing comes two weeks after the bank fully repaid 11.4 billion euros ($11.9 billion) of emergency cash it received from Cyprus' eurozone partners to stay afloat during a 2013 banking crisis.
Bank of Cyprus Group Chairman Josef Ackermann called the listing a milestone for the lender and its strategy to enhance its financial strength.