CySEC approved the prospectus of Bank of Cyprus Holdings Plc Ltd Co (BOCH), already incorporated as the bank’s holding company, in relation to the proposed issue of BOCH shares of nominal value of €0.10 each in connection with the insertion of a new parent company for Bank of Cyprus Public Company Limited by means of scheme of arrangement under sections 198 to 200 of the Cyprus Companies Law, the bank said in a statement on Wednesday.

“The admission to the standard listing segment of the official list of the financial conduct authority, to trading on the main market for listed securities of the LSE, to listing on the Cyprus Stock Exchange (CSE) and to trading on the CSE main market, of up to 700,000,000 BOCH shares at €0.10 each,” the bank said.

Outstanding Bank of Cyprus shares will be traded until two working days after the bank announces on the issuance of a required order of a Cypriot court, while seven working days later, the issue of the BOCH shares will become effective, the bank said, adding that the trading of the latter on the LSE will commence a business day after the scheme enters into force.

Source: Cyprus Mail