Off the wire
• Former Austrian president endorses Greens-backed candidate as successor  • EU increases humanitarian aid for education  • U.S. economy continues expansion in October, Fed survey shows  • Austria passes bill for expropriation of Hitler birth home  • Slovenian interior minister talks migrations with Danish counterpart  • Westminister chooses Scotland's National Day to hand over tax-raising powers to Holyrood  • Spotlight: Fear of Trump inspires EP debate on EU-U.S. data protection deal  • Braga set to be named Fluminense coach  • 370,000 Brazilians infected by HIV not receiving treatment  • Eye surgery to increasingly take outpatient form: Austrian experts  
You are here: 　 Home

Cyprus' biggest lender says plan of listing on LSE approved

Xinhua, December 1, 2016 Adjust font size:

Bank of Cyprus (BOC), Cyprus's primary lender, said on Wednesday that the Cyprus Securities and Exchange Commission (CySEC) has approved the prospectus of the Ireland-based Bank of Cyprus Holdings Plc Ltd Co (BOCH) which has been set up with the aim of enabling the listing of the bank's shares on the London Stock Exchange (LSE).

It said in a statement that CySEC approved the prospectus of BOCH, already incorporated as the bank's holding company, in relation to the proposed issue of BOCH shares of nominal value of 0.10 euro each in connection with the insertion of a new parent company for Bank of Cyprus Public Company Limited.

It added that the approval apllies to 700 million BOCH shares 0.10 euro each.

BOC said its outstanding shares will be traded until two working days after the bank announces on the issuance of a required order of a Cypriot court.

The issue of the BOCH shares will become effective seven working days later and the trading of shares on the LSE will commence a business day later.

BOC is the only lender in the world which has been recapitalized by seizing the assets of its depositors as part of Cyprus's 10-billion-euro bailout in 2013. Endit