BOC to re-list on CSE by end of October

The Bank of Cyprus, which was recapitalised with depositors’ money last year and raised a further 1 bln euros from new investors this year, is expected to resume trading on the Cyprus Stock Exchange by the end of October, according to the Cyprus Securities and Exchange Commission (CySEC) chairwoman Demetra Kalogerou.

She said that the bank has already submitted the prospectus relating to the second phase of the increase in its capital share for the placement to retail investors of 100 mln euros worth of shares, issued at 24c, the same price offered to strategic investors Wilbur Ross and the European Bank of Reconstruction and Development that have pledged 520 mln euros worth.

The CySEC chief that the Commission will try to approve the prospectus, to allow to the bank to re-list its shares on the CSE in late October.