CSE plans three new markets
NICOSIA (Reuters) – Cyprus’s stock exchange is planning three new markets for share listings, aiming to coax back investors stung by the collapse in equity prices three years ago and help raise capital for public projects. «We want the Cyprus Stock Exchange to find its proper place in the economy as a vehicle for raising capital,» CSE Chief Executive Nondas Metaxas told Reuters yesterday. «There are government development projects in the pipeline where the finance… could be raised through the stock market.» One project the government is pursuing is the redesign of international airports in the coastal resorts of Larnaca and Paphos, together with a private partner. Bourse officials will also have contacts with the island’s tourism authority on plans to finance theme parks. At present, the only public bills traded in Cyprus are government treasury bonds. There are no government-controlled corporates on the market.