Nicosia, Cyprus. The inaugural ceremony for the public share offering to establish the Pancyprian Cooperative Bank is taking place today at 11am at the headquarters of the teachers union Poed, formally launching the bank’s capital raising process. The offering covers up to 42 million new ordinary shares with a nominal value of €1.00 each, to be issued at €1.00 per share.
Share offering terms
The share issue is part of the company’s effort to raise share capital through a cash contribution. It follows a resolution approved by the company’s general meeting on December 1, 2025, authorising the capital increase through the public offering.
According to the terms of the offering, the issuer’s board of directors reserves the right to increase the size of the share issue if demand exceeds the initial allocation. In the event of oversubscription, the issue may be expanded from 42 million shares to a maximum of 100 million shares, representing the company’s authorised share capital.
Allocation plan
The allocation plan provides that 60 per cent of the total share issue will be reserved for individual investors, while 40 per cent will be allocated to Cypriot companies.
Oversight committee
The committee overseeing the initiative comprises 19 members and is chaired by Panikos Hambas.
The remaining members are Katerina Markoullidou, Panikos Argyrides, Kyriacos Charalambous, Yiannakis Ioannou, Christos Tombazos, Michalis Lytras, Antonis Antoni, Andreas Kitromilides, Constantinos Constantinou, Charalambos Charalambous, Demetris Koulas, Pambos Ioannides, Neophytos Xenophontos, Apostolos Skouroupatis, Akritas Aspris, Vassos Partassides, Evgenios Eleftheriou and Anastasis Yiapanis.
