The Cyprus Stock Exchange (CSE) on Friday ratified the suspension of trading in the shares of Hellenic Bank Public Company Ltd, following a recent meeting of the CSE Council.
The ratification was made under Article 184 of the Cyprus Stock Exchange Law and formalises the suspension decision first announced on May 9, 2025.
The suspension of trading will remain in effect until July 15, 2025, inclusive.
This development follows the initiation of a squeeze-out process by Eurobank S.A., which seeks to acquire up to 100 per cent of Hellenic Bank’s issued share capital.
The move came after the Cyprus Securities and Exchange Commission (CySEC) formally recognised Eurobank’s right to proceed with the compulsory acquisition.
This action is aligned with Article 5 of the Regulatory Decision RAA96/2008, which governs the clearing and settlement of transactions involving dematerialised securities held at the Central Securities Depository and Central Registry.
These rules apply in cases following the acceptance of a public offer or the exercise of a squeeze-out right.
As a result of the squeeze-out, no transaction or act involving Hellenic Bank securities is permitted during the suspension period.
This restriction applies not only to trading activity on the regulated market but also to all off-exchange and over-the-counter (OTC) transactions.
The Cyprus Stock Exchange had already confirmed earlier that the trading suspension is also being carried out in accordance with Article 183 of the Securities and Cyprus Stock Exchange Law.
The formal ratification now ensures that the suspension will remain legally in place through July 15, 2025, unless otherwise amended by future announcements.
The move marks a key step in Eurobank’s plan to complete its full acquisition of Hellenic Bank, consolidating its presence in the Cypriot banking market.
