Cyprus parliamentary committee reviews Listing Act legislative package

On Friday, the Parliamentary Committee on Finance and Budget in Cyprus reviewed two draft bills designed to improve business access to European capital markets. The legislation aims to reduce the administrative burden for companies, particularly small and medium-sized enterprises, when listing on organized markets.

Financial Director of the Ministry of Finance, Avgi Chrysostomou Lapathioti, stated that these bills are part of the broader European Union 'Listing Act' package. The proposed measures focus on harmonizing national legislation with EU directives and implementing European regulations regarding market oversight and sanctions. A key provision discussed involves reducing the minimum share float requirement for the general public from 25% to 10%, while also allowing for the potential adoption of alternative criteria by regulated markets.

These initiatives are intended to make EU public markets more attractive for firms seeking capital market financing. The process marks a step toward aligning Cypriot laws with current EU standards to foster a more competitive investment environment.