CSE confirms Hellenic Bank delisting

Eurobank on Friday announced its intention to explore a parallel listing of its shares on the main market of the Cyprus Stock Exchange (CSE), following the successful completion of its acquisition of Hellenic Bank.

This move marks what the bank described as “the largest foreign investment ever implemented in Cyprus”.

The development comes in the context of the imminent delisting of Hellenic Bank shares from the Cyprus Stock Exchange, scheduled for June 30, 2025.

Eurobank stated that it is examining the possibility of listing its own shares in Cyprus in order to reaffirm its “strategic commitment to the Cypriot economy” and its support for the “development and strengthening of the local capital market”.

In its announcement, the bank added that the final decision remains subject to the necessary corporate approvals.

If approved, the listing is expected to take place after Eurobank’s shares are admitted to trading on the Athens Stock Exchange.

This will occur through the merger by absorption of Eurobank Holdings, anticipated in the final quarter of 2025.

Eurobank explained that this step forms part of its long-term strategic plan aimed at consolidating its regional presence.

It also seeks to deepen its role in Cyprus and support the closer integration of the Greek and Cypriot markets “in an environment of enhanced geoeconomic convergence”.

Meanwhile, the Cyprus Stock Exchange confirmed on June 27, 2025, that it will proceed with the delisting of Hellenic Bank Public Company Ltd shares from its regulated market.

The delisting follows a request by Hellenic Bank itself and a decision by the exchange council, in accordance with Article 181 of the Cyprus Securities and Stock Exchange Law and CSE Directive 01 of 2015 on the delisting of securities at the issuer’s request.

The announcement also mentioned that Eurobank had previously exercised its squeeze-out rights, acquiring full control of Hellenic Bank.

The delisting of Hellenic Bank shares from the Cyprus Stock Exchange will take effect on Monday, June 30, 2025.

On the same date, the company’s shares will also be removed from the central depository and central registry of securities, in accordance with Article 19 of the relevant Cyprus legislation.

It should be recalled that Eurobank completed its acquisition of all remaining Hellenic Bank shares on June 10, 2025. Eurobank paid €4.843 per share in cash, finalising full ownership.

The acquisition followed approval by the Cyprus Securities and Exchange Commission on May 8 and included the transfer of over 8.27 million shares.

Hellenic Bank will be renamed Eurobank Limited after the legal consolidation with Eurobank Cyprus, pending supervisory approvals.

Meanwhile, the Cyprus Chamber of Commerce and Industry (Keve) on Friday released a statement welcoming Eurobank’s intention to list its shares on the CSE.

“The Cyprus Chamber of Commerce and Industry, as an institutional body and the organisation from which the stock market institution in Cyprus was initiated, warmly welcomes Eurobank’s intention to list its shares on the Cyprus Stock Exchange (CSE),” Keve said.

“This development represents a vote of confidence in the Cypriot capital market and marks the beginning of a new phase of growth and deepening of the institution,” it added.

The chamber concluded by saying that it will “continue to support initiatives that enhance transparency, trust, and participation in the domestic capital market“.