Bank of Cyprus and its Shares

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BOCFollowing a meeting between the Bank of Cyprus and the Securities and Exchange Commission (CySEC) held on Friday, it would appear unlikely that the Bank of Cyprus’s shares will return to the stock market before the end of this year. The shares that have been suspended until the end of this month since March 2013 will most likely be put on hold. Bank of Cyprus has given to CySEC a schedule outlining the return onto the stock market which they will evaluate before the end of month deadline. Demetra Kalogerou head of CySEC whilst talking to reporters said before the expiration of the suspension the intentions of the bank would be evaluated. And was quoted as saying ‘Certainly their intention is not to be delisted,’ suggesting there will be a short extension instead. Bank of Cyprus says it has completed many of the requests set out by CySEC and is in the process of finishing the rest, however regarding the offering circular the bank said it is ‘bound to take some time’ because of the enormous changes that occurred throughout last year.