Nicosia, Cyprus. The sale of shares to establish the Pancyprian Cooperative Bank will take place between July 22 and November 17, 2026, following approval of the public offering prospectus by the Cyprus Securities and Exchange Commission.
The announcement was made on Friday by Panikos Hambas during the first official gathering of the Pancyprian Cooperative Society for Participation and Promotion of Cooperativism Ltd in Nicosia after the prospectus approval.
Public offering details
The public offering covers up to 42 million new shares, each with a nominal value of €1.00. Interested investors will be able to purchase shares through the Athlos Capital platform.
The minimum purchase requirement has been set at 100 shares.
Launch event
The event drew participation from members of parliament, political party representatives, government officials, local authority representatives, trade union representatives, figures from the cooperative sector and business executives.
Project objective
The initiative aims to establish the Pancyprian Cooperative Bank, with the newly created participation company serving as the vehicle through which citizens and organisations can acquire shares.
Hambas comments
Hambas, president of the committee of the Pancyprian Cooperative Society for Participation and Promotion of Cooperativism Ltd, said the project had been challenging but achievable and that social and economic conditions were now suitable for a new cooperative model.
He said transparency, democratic procedures, consensus and unity were the defining characteristics of the cooperative company.
