An islandwide roadshow promoting the proposed Pancyprian Cooperative Bank will begin on July 30, with organisers holding 40 public meetings to explain the terms of a 42 million-share offering.

Organised by the Pancyprian Cooperative Society for Participation and Promotion of Cooperativism in cooperation with the Union of Cyprus Communities, the meetings follow approval of the prospectus by the Cyprus Securities and Exchange Commission (CySEC). Organisers say the sessions are intended to help potential investors understand the offering before deciding whether to participate.

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First Meetings Scheduled

The campaign begins on July 30 at 7:30 p.m. at the Astromeritis Cultural Centre.

Further meetings are scheduled for August 4 in Evrychou, August 5 in Marathasa, August 6 at Koula Pilavaki’s café in Kambos and August 27 at the Olympus cinema theatre in Pelendri, with additional events planned across Cyprus.

What Prospective Investors Need

Anyone wishing to purchase shares should bring a bank card, an identity card and a recent utility bill issued by the electricity, telephone or water provider.

Before submitting an application, prospective investors are encouraged to read the approved prospectus and review the terms of the offering.

Share Offering Underway

Launched on July 22, the online platform allows members of the public to purchase shares through the participation company established to support the proposed bank.

Investments start at 100 shares priced at €1 each. Payments of up to €10,000 can be made by bank card through JCC and transferred to a dedicated Bank of Cyprus account. Larger investments require a bank transfer after applicants contact the issuer’s support team. Share subscriptions remain open until November 17.

Regulatory Approval Does Not Endorse The Investment

CySEC’s approval of the prospectus does not constitute approval or endorsement of the share offering itself. Instead, it confirms that the prospectus meets the regulator’s disclosure requirements.

Capital Raise And Licensing Process

Up to 42 million new shares are being offered, with 60% allocated to individual investors and 40% reserved for Cypriot companies. If demand is strong, the board may increase the offering to as many as 100 million shares.

Before operations can begin, the proposed bank must obtain licences from both the Central Bank of Cyprus and the European Central Bank.

Push For Greater Competition

Earlier comments from borrowers’ groups welcomed the proposal, arguing that a new cooperative bank could increase competition in Cyprus’s banking sector, broaden access to financing and encourage more competitive lending terms.