Investing in Cyprus ADRs / Cyprus Stocks List
While the 1974 attempted coup by Greek Cypriot nationalists that was followed by an invasion and occupation of the north by Turkey has left the island divided, the Greek speaking Republic of Cyprus has its own stock market albeit it along with the country’s economy has close ties to Greece. In 2012, Cyprus was hit by the Eurozone financial and banking crisis when its government announced that it would need €1.8 billion in foreign aid to support the Cyprus Popular Bank. This was followed by Fitch downgrading the country’s credit rating to junk status saying it would need an additional €4 billion to support its banks mainly due to the exposure of the Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank, the three largest banks, to the Greek financial crisis. The 2012–2013 Cypriot financial crisis led to an agreement with the Eurogroup in March 2013 to split the country’s second largest bank, the Cyprus Popular Bank (also known as Laiki Bank), into a “bad” bank which would be wound down over time and a “good” bank which would be absorbed by the Bank of Cyprus. In return for a €10 billion bailout, the Cypriot government would be required to impose a significant haircut on uninsured deposits – a large proportion of which were held by wealthy Russians who used the country as a tax haven.
Note: If there are any ADRs to add or remove from this list or there are bad links, please write a note in the comments section so it can be fixed. Likewise, adding any other comments or advice would also be appreciated.
List of Cyprus ADRs Trading on Major US Stock Exchanges & the Over-the-Counter (OTC) Exchange
|1||Bank of Cyprus Public Company Ltd||BACPY||OTC||Financial Services|
|2||Prosafe SE||PRSEY||OTCPink||Oil & Gas|
The Cyprus Stock Exchange (CSE)
The Cyprus Stock Exchange (CSE) was established under the 1996 Cyprus Securities and Stock Exchange Law which provides for the development of the securities market in Cyprus and for the establishment and operation of the Cyprus Stock Exchange. The Cyprus Stock Exchange (CSE) began its operations in March 1996 while in 2006, the exchange launched a common platform with the Athens Stock Exchange.
Here are some useful and English news resources for investing in Cyprus ADRs or stocks or about Cyprus in general:
Note: If you have a good blog or other useful resource for investing in Cyprus or about Cyprus stocks in general, please let us know as we would be happy to do a link exchange.