Ellinas Finance Public Company Ltd announced this week that it has formally initiated the process for a secondary listing of its shares on NSE International Exchange in India.

In a filing submitted to the Cyprus Stock Exchange in Nicosia, the company informed shareholders and the investing public that it has begun the necessary procedures for the proposed admission.

The exchange in question, NSE International Exchange, is located at GIFT City, India and operates as an international multi-asset exchange.

It is also a wholly owned subsidiary of the National Stock Exchange of India, according to the announcement.

The company stated that it is currently completing and submitting the required documentation while fulfilling the relevant procedural requirements in connection with the admission of its shares to listing on NSE IX at GIFT City.

The proposed move is aimed at enhancing the company’s international profile, broadening investor awareness and strengthening its presence in global capital markets, the announcement said.

The contemplated admission will constitute a non-trading listing, meaning that although the shares will be admitted to listing on NSE IX, no trading activity is envisaged in that market at this stage.

The company clarified that its primary listing on the Cyprus Stock Exchange will remain unchanged and fully unaffected by the development.

It also said that it will provide further updates upon completion of the relevant formalities.