The Bank of Cyprus on Wednesday announced the complete disposal of the remaining shares held by Cyprus Popular Bank (Laiki) Public Co Ltd, which has been in liquidation.
Following the sale, the now-defunct Laiki bank no longer retains any ownership in the Bank of Cyprus.
The announcement added that the updated shareholder information will soon be reflected on the Bank of Cyprus’ website.
According to the regulatory notification, the final tranche of 5,900,000 shares—representing 1.335 per cent of voting rights in the Bank of Cyprus—was sold on November 18, 2024.
This marks a significant milestone in the liquidation process of Laiki, which was acting through its liquidator, Augoustinos Papathomas, with no personal liability.
The notification was officially filed on November 19, 2024.
Previously, Laiki held a 4.859 pe rcent stake in the Bank of Cyprus. With this latest sale, its position has now been reduced to zero.
The shares were previously managed under the framework of the liquidation, with the Republic of Cyprus owning 81.5 per cent of Laiki shares.
The announcement was accompanied by a regulatory filing using the Standard Form TR-1, which adheres to disclosure requirements for major holdings.
The form confirms that the threshold of voting rights held by Cyprus Popular Bank Ltd has fallen below both 4 per cent and 3 per cent, the legally significant levels requiring notification.
The total voting rights in the Bank of Cyprus now amount to 441,851,775 shares. With Laiki’s exit, the Bank of Cyprus will soon provide updated details on major shareholders and voting rights on its investor relations page.
CPB, which was nationalised during the 2013 financial crisis and placed under liquidation, has been steadily reducing its stake in the Bank of Cyprus. This final sale completes a process of divestment that has stretched over years.
