Cyta flotation ruled out, Pizza Hut aims for listing
Transport Minister Adamos Adamides said that Cyta will not be floated on the Cyprus stock market, despite plans to make the public sector more competitive with less government involvement, while the Zivanaris family-owned company aimed to list the Pizza Hut and other franchises through a private placement, according to the issue 162, on May 15, 1996.
Communications and Works Minister Adamos Adamides said that Cyta and other public
No for Cyta:
services need to adjust and evolve in order to become more competitive in light of future EU accession an to benefit the consumer with the lowest possible rates. He said there are no plans to privatise state-owned assets, but he wants to convert Cyta, the Postal Service, the Ports Authority and the airports into competitive entities without changing ownership.
ZK Franchise Restaurants, operators of the Henry J. Beans and the Pizza Hut chain in Cyprus and Norway intends to go public in early 1997 following a successful private placement of 500,000 shares at CYP 2.93, arranged by Andreas Leonidou of AL ProChoice.
the chief executive of London Clubs, Alan Goodenough, told a gaming conference in Limassol that Cyprus urgently needs a casino operator, for which only two licenses should be issued to promote high-class, high-spending tourism. But this can only proceed after the May 26 parliamentary elections.
Cyprus and Malta will be the first countries to join the EU as indicated in the Cyprus-EU Association Council, due to i mportant progress in harmonisation. Talks are expected to start six months after the Intergovernmental Conference to review the Maastricht Treaty.
Cyprus-Malta to join EU: