Cyprus Mail
Business

District court gives BoC green light for LSE listing

Bank of Cyprus said the Nicosia district court on Wednesday approved the setting up a holding company in Ireland as part of the lender’s efforts to have its shares listed on the London Stock Exchange.

“Further to the above developments, the bank expects the next steps leading to admission to commence in early January 2017,” the bank said in an emailed statement on Wednesday. Amendments to the proposed timetable will be announced in due course, the lender added.

Under the proposed arrangement, the holding company will become proprietor of all existing Bank of Cyprus shares while shareholders will receive shares in the holding company in proportion to their current stake.

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