The FINANCIAL — London Stock Exchange welcomes Bank of Cyprus Holdings to trading on the Main Market on January 19 as the banking group, with a €1.4 billion market capitalisation, successfully completed its London listing.
The listing is expected to improve the liquidity of BOC Holdings’ shares and lead to a broader base of investors.
BOC Holdings joins 54 global banking stocks already listed in London, with a combined market capitalisation of $1.2 trillion. The admission builds on London Stock Exchange’s strong Cypriot credentials, which include being the listing venue for Cyprus’ most recent sovereign bonds. The Cypriot government’s €1 billion sovereign bond in London in 2016 secured record low yields for the government, at 3.80 per cent. In 2016, London Stock Exchange profiled five Cypriot companies in its 1000 Companies to Inspire Europe report which identifies Europe’s fastest growing and most inspiring businesses, according to London Stock Exchange.
Nikhil Rathi, CEO, London Stock Exchange plc said:
“BOC Holdings’ listing is a milestone for the company and for Cyprus. It demonstrates the Bank’s strong recovery since the financial crisis and underlines London’s ability to help the banking sector recapitalise itself for growth. Its choice of London highlights the City’s ability to support access to funding for companies from around the world, reinforcing its status as a leading global listing venue and dynamic place to do business.”
Dr. Josef Ackermann, Chairman of Bank of Cyprus Holdings said:
“We are very pleased to see BOC Holdings’ shares commence trading on the London Stock Exchange, which is another significant step in the Group’s transformation. We expect this listing, on one of the world’s leading international capital markets, to facilitate greater profile, liquidity and access to capital.”