By Alexia Cafetzis
Bank of Cyprus shares started flirting with four euros after repeated purchases made by the bank itself. Yesterday, a new purchase of own shares was announced by the bank. Specifically, 3815 shares were acquired on the London Stock Exchange (LSE) with a weighted average purchase price of £3.46 and 16100 on the CSE with an average price of €3.91
On April 19, 2024, when the launch of the program was announced purchase of own shares, the bank's share closed at €3.63 from €3.65 the previous day.
On April 22, 2024, when the first share buyback was announced, the share closed at €3.69 from €3.63 which was the previous closing price. 5950 shares were acquired on the CSE with a weighted average purchase price of €3.62 and on the London Stock Exchange 13473 shares with a weighted average purchase price of £3.19.
On April 23 it was announced that 6 thousand were acquired on the CSE. shares with a weighted average purchase price of €3.65, with the share price reaching €3.70.
On April 24, according to a BOCH announcement, 19373 shares were acquired on the LSE with a weighted average purchase price of £3.24 and on the CSE 11600 shares with a weighted average purchase price of €3.71. On 25 April it was announced that 26132 shares were acquired on the LSE at a weighted average purchase price of £3.27 and on the CSE 10800 shares at a weighted average purchase price of €3.74, with the stock closing at €3.64. On April 29, the share price closed at €3.68, on April 30 at €3.64, on May 2 at €3.71, while yesterday it closed at a new high of €3.94. Yesterday it rose to a new high of €3.97 with gains of 0.76%. The profits for the share since April 19, reach 7.9%.
And capital reduction
The CSE announced yesterday that the issued share capital of the bank, which amounted to €44,608,380.50 divided into 446,083,805 ordinary shares with a par value of €0.10 has been reduced to €44,597,148.8 divided into 445,971,488 ordinary shares with a par value of €0.10, with based on the company's decision, due to the cancellation of 112,317 shares held by the company, through the share buyback program as shown below:
- 47,896 ordinary shares which had been acquired as follows: 22,603 and 25,293 ordinary shares shares through the London Stock Exchange.
- 7,000 ordinary shares which had been acquired through the Cyprus Stock Exchange
- 57,421 ordinary shares which had been acquired as follows: 27,421 and 30,000 ordinary shares through the London Stock Exchange. This change in the trading system of the Cyprus Stock Exchange takes effect from today.
