ASE President due in Cyprus

…BOC first candidate for International Sophocleous

The Chairman of the Athens Stock Exchange is due in Cyprus on September 16 to initiate a number of agreements with the CSE, chief among them being plans to set up a common trading platform and include Cypriot titles in the new International Market index of the ASE.

CSE Chairman Akis Kleanthous told the Financial Mirror that the Chairman of the ASE, Spyros Kapralos is due in Cyprus to sign a number of agreements with the CSE towards the establishment of a common trading platform.

“We shall also discuss how Cypriot companies will be included in the ASE International Index, which requires companies to have a minimum market cap of EUR 100 mln and a satisfactory free float,” said Kleanthous.

BOC, Laiki, HB, VIP, LUI and VCW are the six Cypriot titles that would qualify for a listing in the prestigious index that will make its debut in October. BOC has a market cap of CYP 990 mln or EUR 1.7 bln, Laiki CYP 455 mln or EUR 795 mln and HB CYP 115 mln or EUR 200 mln. VIP has a market cap of CYP 87 mln or EUR 152 mln, LUI a cap of CYP 74 mln or EUR 129 mln and VCW a market cap of CYP 66 mln or EUR 115 mln.

The management of the new index is under the auspices of FTSE International. Informed sources told the Financial Mirror that the initial difficulties of having BOC included in both exchanges appear to have been overcome.