Eurobank Ponders Dual Listing on Cyprus' Stock Market
Eurobank Ergasias Services and Holdings S.A. (Eurobank Holdings) has announced plans for a dual listing of its shares on both the Athens Stock Exchange (ASE) and the Cyprus Stock Exchange (CSE), following its acquisition of Hellenic Bank.
The acquisition, which is expected to be finalised by June 10, 2025, will see Eurobank gain 100% ownership of Hellenic Bank, after which the bank intends to consolidate Hellenic Bank with its Cyprus operations and rename the entity Eurobank Limited, subject to final supervisory approvals.
The dual listing plan is part of Eurobank’s long-term strategy to consolidate its regional presence, strengthen its role in Cyprus, and enhance integration between the Greek and Cypriot markets. The move is aimed at reaffirming Eurobank's strategic commitment to the Cypriot economy and supporting the development of the local capital market.
The final decision on the Cyprus listing is still subject to necessary corporate approvals. If approved, the listing on the CSE is expected to occur after the admission of Eurobank’s shares to trading on the ASE, which is anticipated to happen following the merger by absorption of Eurobank Holdings in the last quarter of 2025.
This dual listing reflects Eurobank’s strong confidence in the Cypriot economy and aims at promoting greater regional integration. The move is expected to have a significant impact on the CSE and is considered a significant development for the domestic stock market in Cyprus.
It is worth noting that the acquisition of Hellenic Bank by Eurobank is the largest foreign investment ever implemented in Cyprus. The delisting of Hellenic Bank's shares from the CSE is scheduled for June 30, 2025.
Sources: [1] Eurobank Press Release, 2022. [2] Cyprus Stock Exchange, 2022. [3] Eurobank Investor Relations, 2022. [4] Bank of Cyprus, 2022.
Eurobank Holdings intends to consolidate Hellenic Bank with its Cyprus operations and rename the entity Eurobank Limited after acquiring 100% ownership of Hellenic Bank. This consolidation is part of Eurobank's long-term strategy to enhance integration between the Greek and Cypriot markets.
If approved, the listing of Eurobank on the Cyprus Stock Exchange (CSE) is anticipated to occur after the admission of Eurobank’s shares to trading on the Athens Stock Exchange (ASE), which is expected to happen following the merger by absorption of Eurobank Holdings in the last quarter of 2025.
The acquisition of Hellenic Bank by Eurobank is the largest foreign investment ever implemented in Cyprus, signifying Eurobank's commitment to the Cypriot economy and the development of the local capital market.
