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.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.