LTV seeks dual listing on CSE & ASE

Lumiere TV Public Co. Ltd. (LTV) has tabled applications seeking a dual listing of its shares on the Cyprus and Athens Stock Exchanges.

Marios Hadjiyannakis, General Manager of Egnatia Financial Services, the Sponsoring Brokers told the Financial Mirror that the applications were submitted on Monday with the specific intention to make a joint offering simultaneously on both markets.

Hadjiyannakis said the IPO price will be determined based on the book building process, revealing that LTV will be seeking to list on the Main Market of the CSE.

“I think its important at this stage to have more companies going public,” said Hadjiyannakis.

LTV is a household name in Cyprus and is involved in the management of the island’s first pay-TV station, the production of programmes for TV for advertisements, sub-titling, dubbing and translations of TV programmes and retail services.

Turnover in 2003 reached CYP 11.65 mln, with pretax profits at CYP 2.98 mln and net after tax profits at CYP 2.17 mln.

Sponsoring brokers are Egnatia Financial Services (Cyprus) Ltd, Egnatia AXEPEY and Laiki Investments Public Co. The underwriters in Greece are National Bank of Greece and Egnatia AXEPEY and in Cyprus, Laiki Investments.