Public share offering for new Pan-Cyprian Cooperative Bank begins

On Friday, July 10, 2026, the Pan-Cyprian Cooperative Holding and Promotion Company launched a public share offering in Nicosia at the POED event hall. The company aims to raise 42 million euros, with up to 42 million new shares offered at 1.00 euro each, based on a December 1, 2025, General Assembly decision. If oversubscribed, the board has the authority to expand the issuance up to 100 million shares. The offering is split into 60 percent for natural persons and 40 percent for Cypriot companies. The board, led by Panikos Chambas, consists of 19 members responsible for the initiative. While the Cyprus Securities and Exchange Commission has approved the prospectus, this offering does not constitute a banking license. A formal application will be submitted to the Central Bank of Cyprus only after the capital raise is complete, with final licensing approval resting with the European Central Bank. The proposed organization aims to be a digitally oriented cooperative supporting workers, farmers, families, and small-to-medium businesses.