Laiki secures dual listing on ATHEX

…share price surges to new record

 

The share price of Laiki Bank Pcl (CPB) surged to a new record high of CYP 3.44 as investors applauded the fast and efficient way with which the bank secured its entry into the Athens Stock Exchange.

The Board of ATHEX announced that it has accepted the application made by Laiki Bank to list its 357.464.742 existing shares on the Athens Stock Exchange.

Trading on the shares will start as soon as the public offers for the acquisition of Marfin and Egnatia are completed, the Athens Stock Exchange Board said, giving a timely boost to efforts by Management to win support for the merger proposal.

The speed with which Laiki Management led by the duo of Andreas Vgenopoulos and Christos Stylianides managed to win approval for a dual listing on the ATHEX goes a long way to show how the new bank will be delivering on its promises.

The stock market also reacted positively to the news by driving the share price to a new record high of CYP 3.44 in mid-day trading on the CSE on heavy volume of 810.000 shares.

Stock market participants also brushed aside the resignation of Laiki Board member Andreas Phillipou from the Board as he was seen as a close ally of the former Laiki Chairman Kikis Lazarides and was known to have opposed the triple merger.