Bank of Cyprus ditches London Stock Exchange for Athens

(Alliance News) - Bank of Cyprus Holdings PLC on Tuesday announced it has been approved to list on the Athens Stock Exchange as it prepares to leave the London Stock Exchange.

The Nicosia-based lender said the last trading in London will be on Wednesday, with its delisting to be effective on Thursday at the market open.

Bank of Cyprus expects its shares to start trading in Athens on Monday.

Back in August, the company said it expected to attract a broader investor base from being listed "in a market complementary to that of the company". It had added: "Trading in the more focussed ecosystem of Athex, and the increased potential for peer comparison has the potential to attract long-term institutional holders to the company."

Bank of Cyprus shares were 0.5% higher at 390.00 pence each on Tuesday afternoon in London. It has a market capitalisation of around EUR2.00 billion.

By Tom Budszus, Alliance News slot editor

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