This development foresees to attract considerable trading interest once the new Bank of Cyprus shares resume trading on the exchange.
Limassol, Cyprus (PRWEB UK) 2 September 2014
MeritKapital (MK) is very pleased to announce its admittance into the Cyprus Stock Exchange as a “Broker and Clearing member firm”. MK is excited with this development as it foresees to attract considerable trading interest once the new Bank of Cyprus shares resume trading on the exchange, estimated in the fourth quarter of this year.
MK gained considerable local exposure this past year, as it acted as the first broker of Bank of Cyprus bailed in deposits and shares and has since worked on numerous other such deals of large worth. Since Cyprus’s bailout of March 2013, the new Bank of Cyprus shares have been trading on the OTC market. The recently proposed capital infusion of €1bn into the Bank of Cyprus by international institutional investors has been agreed by both the Bank's Board of Directors and its Shareholders and has priced the shares at 24cents; considerably less than their book value. Following this development, there has been continued interest from international players to continue to trade the stock. As such, upon the stock's listing and based on the continued progression and financial and other restructuring of the Bank, this trading interest should continue.
MeritKapital is a CySEC licensed investment firm (#77/06) that deals predominantly with foreign clients and is particularly active in Fixed Income and Equity trading, as well as Custodial activities within the sphere of depositary and settlement services. It has established trading lines with numerous western capital banks and interdealer brokers, but also with major Russian players where it believes to have a niche.
Please do not hesitate to contact us to establish your Investor Share Code and Securities Account on the CSE, a requirement for the new Bank of Cyprus shares to be credited to your name and facilitate trading on the CSE.