By Elias Hazou
The Cyprus Stock Exchange (CSE) on Monday released a statement formally welcoming Eurobank Group鈥檚 intention to pursue a dual listing of its shares on the CSE.
The CSE described the move as a sign of trust in both the Cypriot economy and the island鈥檚 capital markets.
鈥淲e at the Cyprus Stock Exchange (CSE) welcome the Eurobank Group鈥檚 intention for a dual listing of its shares on the Cyprus Stock Exchange, as announced by the group on Friday, June 27, 2025, at the Athens Stock Exchange, where its titles are currently primarily listed,鈥 said CSE council chairman Marinos Christodoulides.
鈥淭his declaration of intent by Eurobank demonstrates the high level of trust that the Eurobank Group has in the Cyprus Stock Exchange, as well as in the Cypriot economy,鈥 he added.
The announcement follows the successful completion of Eurobank鈥檚 acquisition of Hellenic Bank, in what the bank described as the largest foreign investment ever implemented in Cyprus.
Eurobank officially acquired all remaining Hellenic Bank shares on June 10, 2025, paying 鈧4.843 per share in cash, following the approval by the Cyprus Securities and Exchange Commission on May 8 and the transfer of over 8.27 million shares.
With full control of Hellenic Bank, Eurobank exercised its squeeze-out rights and now intends to consolidate Hellenic Bank with Eurobank Cyprus, after which the entity will be renamed Eurobank Limited, pending final supervisory approvals.
The planned dual listing was announced ahead of the delisting of Hellenic Bank鈥檚 shares from the CSE, scheduled for June 30, 2025.
In its June 27 announcement, Eurobank stated that it is evaluating the listing of its shares in Cyprus to reaffirm its 鈥渟trategic commitment to the Cypriot economy鈥 and to support the 鈥渄evelopment and strengthening of the local capital market鈥.
The bank emphasised that the final decision is still subject to the necessary corporate approvals.
If approved, the listing is expected to take place following the admission of Eurobank鈥檚 shares to trading on the Athens Stock Exchange through the merger by absorption of Eurobank Holdings, which is anticipated in the final quarter of 2025.
Eurobank also explained that the listing forms part of its long-term strategic plan to consolidate its regional presence and deepen its role in Cyprus, while promoting greater integration between the Greek and Cypriot markets 鈥渋n an environment of enhanced geoeconomic convergence鈥.
The chairman of the CSE explained that 鈥渢he stock exchange looks forward to the completion of the required procedures under the legislation, as described in Eurobank鈥檚 statement, so that this intention can move forward to completion as soon as possible鈥.
鈥淲e believe this development will add increased value and future prospects to the Cyprus Stock Exchange,鈥 he added.
Meanwhile, a similar statement was released by the Cyprus Chamber of Commerce and Industry (Keve) last week.
鈥淭he Cyprus Chamber of Commerce and Industry, as an institutional body and the organisation from which the stock market institution in Cyprus was initiated, warmly welcomes Eurobank鈥檚 intention to list its shares on the Cyprus Stock Exchange (CSE),鈥 Keve said.
鈥淭his development represents a vote of confidence in the Cypriot capital market and marks the beginning of a new phase of growth and deepening of the institution,鈥 it added.
Keve concluded by stating that it will 鈥渃ontinue to support initiatives that enhance transparency, trust, and participation in the domestic capital market鈥.