Cyprus cooperative bank launches with 42 million share public offering

The inaugural ceremony for the public share offering to establish the Pancyprian Cooperative Bank is taking place today at 11am at the headquarters of the teachers union Poed, marking the formal launch of the bank’s capital raising process.

The public offering concerns up to 42 million new ordinary shares, each with a nominal value of €1.00 and to be issued at €1.00 per share, as part of the company’s effort to raise share capital through a cash contribution....