New bank begins share offering
The launch ceremony for the share offering to establish the Pancyprian Cooperative Bank will take place today at 11am at the central offices of the Cyprus Greek Teachers’ Organisation (POED).
The new Cyprus cooperative bank is launching a public offering of up to 42 million new shares in Cyprus, each with a nominal value of €1.
The shares will be issued at a price of €1 each as part of a cash capital-raising initiative, following a decision by the company’s General Meeting on 1 December 2025.
Share issue could increase to 100 million
If the offering of up to 42 million new shares is oversubscribed, the issuer’s Administrative Committee, which serves as its Board of Directors, reserves the right to extend the issue to meet demand.
The total number of shares may be increased to a maximum of 100 million, corresponding to the company’s authorised share capital.
Of the total share issue, 60% will be allocated to individuals and 40% to Cypriot companies.
The share offering marks a key step towards the establishment of the new Cyprus cooperative bank and the development of its capital base.
Members of the Administrative Committee
The members of the Administrative Committee are:
Panikos Hambas (President), Aikaterini Markoullidou, Panikos Argyrides, Kyriakos Charalambous, Yiannakis Ioannou, Christos Tombazos, Michalis Lytras, Panikos Hambas, Antonis Antoni, Andreas Kitromilides, Constantinos Constantinou, Charalambos Charalambous, Dimitris Koulas, Pambos Ioannides, Neophytos Xenophontos, Apostolos Skouroupatis, Akritas Aspris, Vassos Partasides, Evgenios Eleftheriou and Anastasis Yapanis.
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