Newsroom
Bank of Cyprus shares surged on their first day of trading at the Athens Exchange, reaching €5.00, marking a notable return to the Greek financial market after seven years. Investor interest was high, with trading volume on the Athens Exchange surpassing that on the Cyprus Stock Exchange (CSE).
On the first trading day, Bank of Cyprus shares (BOCHGR) saw transactions totaling €2.27 million in Athens, compared to €1.13 million on the CSE. A total of 457,902 shares changed hands across 640 transactions.
Opening at €5.10, the bank's share price reached a high of €5.10 and a low of €4.90 before stabilizing at €5 by the close of the day, reflecting a 4.6% increase. This performance placed Bank of Cyprus among the top gainers on the exchange, with only four other companies, including Frigoglass and ABAX, recording higher percentage rises.
Bank of Cyprus Chairman, Takis Arapoglou, emphasized that the move to list on the Athens Exchange would increase visibility for the bank and attract more investors. "We believe this will make our shares more marketable and comparable to other regional banks," Arapoglou stated during the trading ceremony.
The Bank of Cyprus' strong debut signals confidence in its growth prospects, as it aims to strengthen its presence in Southeastern Europe.
