The bank announced on Monday that it has signed share purchase agreements with Demetra and Logicom, under which it will acquire 24.66 per cent of Hellenic Bank’s shares, amounting to 101,794,409 shares, for approximately €493 million. This corresponds to €4.843 per share.
Specifically, Eurobank will acquire 88,064,705 shares (21.33 per cent) from Demetra for approximately €426 million and 13,729,704 shares (3.33 per cent) from Logicom for about €66 million.
“Supported by strong domestic activity and stabilising inflation, the market continues to demonstrate adaptability while addressing broader challenges,” the company said.
Moreover, the company noted that data on building permits for the first half of 2024 recorded a significant 32.5 per cent year-on-year increase, “reflecting robust development momentum”.
Held on November 21 at the chamber’s headquarters in Nicosia, the forum “brought together professionals and officials from both countries for a successful day of networking and collaboration”.
The forum was inaugurated by Energy Minister George Papanastasiou, alongside Austria’s ambassador to Cyprus Susanne Bachfischer.
This marks a continuation of its upward trend following annual rises of 1.6 per cent in September and 1.2 per cent in August 2024.
According to the university, which released its latest update on Monday, the CCLEI maintained its positive trajectory in October, driven by contributions from all its components.
Key factors influencing the index include the rise in the Economic Sentiment Indicator (ESI) for both Cyprus and the eurozone, as well as a notable drop in Brent crude oil prices in October compared to the same month in 2023.
The announcement mentioned that this latest progress update was provided following the committee’s fourth board meeting, which took place on November 22, at the Central Bank of Cyprus (CBC) headquarters in Nicosia.
Established in June 2024, CyFLEC was created to address the low levels of financial literacy in Cyprus. Its creation followed findings from various studies and consultations.
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In this exclusive interview with the Cyprus Mail, Moroz shares insights into his journey, his decision to base Aloha in Cyprus, and the island nation’s growing prominence as a tech and privacy hub.
Meanwhile the concrete workers remain set in their demands for overtime pay, saying that, were the specific article to be respected, the strike would immediately end.
The problem will be addressed at an Oev meeting on Monday afternoon, its head Michalis Antoniou told the Cyprus News Agency, adding that exact numbers had not yet been acquired from all affected branches of the construction industry.
The Cyprus Stock Exchange (CSE) ended Monday, November 25 with profits.
The general Cyprus Stock Market Index stood at 206.01 points at 12:12, reflecting an increase of 2.71 per cent.
The FTSE / CySE 20 Index was at 125.39 points, reflecting a rise of 2.7 per cent.
The total value of transactions amounted to €1.16 million at the aforementioned time during trading.
In terms of the sub-indexes, the main index rose by 3.07 per cent while the hotel and alternative indexes fell by 1.30 per cent and 0.01 per cent respectively. The investment firm index remained stable.
The biggest investment interest was attracted by the Bank of Cyprus (+1.37 per cent), Hellenic Bank (+6.94 per cent), Petrolina (+0.63 per cent), Lordos Hotels (-2.44 per cent), and Vassiliko Cement Works Public Company (no change).
