Chairman of the Committee on the Cyprus Securities and Exchange Commission (CySEC) Dimitra Kalogiri said yesterday that the BoC may be excluded from the list of the Cyprus Stock Exchange (CSE), if not already present in the near future a detailed prospectus of the forthcoming issue.
According to Kalogiru, the deadline for this is 31 January. She stated this at a news conference in Nicosia. Kahiliro recalled that BoC absorbed Laiki by taking on his troubled loans, which caused the bank's shares to not participate in the trades during the last nine months, and noted that the exclusion of the largest credit institution of the island's establishment (from the list of the stock exchange) not the best solution. "We want the bank to stabilize as soon as possible, as was also announced by the Minister of Finance (Haris Georgiadis)," she assured. The officials of the Commission appointed a meeting with the management of BoC on Friday, while Kalogiru noted that a slight delay is possible. Due to the fact that the bank's shares have not been traded for a long time, the register of shareholders, information about which the Commission has, includes only the old holders of shares of the credit institution.
New avenue to include any new information regarding the new activities and projects of the bank, as well as the latest reports. According to the latest data released by the bank in the first nine months 2013 year, the bank made a net loss 1,94 billion euros. And 2014 year also will not be easy.
Updated prospectus should give a clear picture of the prospects of the bank and the possible risks for investors, stressed Kalogiri. In total, the 2013 10 companies were excluded from the Stock Exchange due to failure to comply with CSE, she added.