The Chairman of the Athens Stock Exchange, Spyros Kapralos, is due to arrive in Cyprus later in the month to sign a number of new agreements with the Cyprus Stock Exchange, according to the Financial Mirror.
CSE Chairman, Akis Kleanthous, told the paper that among the agreements due to be initiated during Kapralos's visit on September 16 will be one which will lead towards the establishment of a common trading platform between the two bourses.
Kleanthous also revealed that the two parties will hold discussions on how CSE companies will be included in the ASE International Index, which requires companies to have a minimum market cap of EUR100 million and a satisfactory free float.
Currently, six Cypriot companies have sufficient market capitalisation to qualify for a listing on the ASE International Index, the largest of which is the Bank of Cyprus, which has a market cap of EUR1.7 billion.
Sources have told the Financial Mirror that initial difficulties with BOC's listing on both the ASE and the CSE have been overcome.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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