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Number of listed companies at -44%

13/01/2016 13:35
In 2015 CSE had the smallest number of listed companies on the regulated market since at least 2000, recording a decline of 44% from its maximum in 2002. Yet at the same time, investor interest is growing for the NEW market which is unregulated, due to more flexible entry criteria.

According to figures provided to StockWatch by the CSE, the number of companies listed on the regulated market fell to 87 in 2015 from 103 in 2014. The decline is attributed to deletions of companies due to their failure to comply with their obligations.

In 2002 the number of listed companies on the market rose to 154 and in 2003 to 152.

Apart from the reduction in the number of listed companies, the total market capitalization is also reduced as it fell to € 5,8 bn in 2015 from € 8,4 bn. in 2014. This is the lowest level since 2000.

Despite the reduction in the number of companies listed on the regulated market, interest for the NEW CSE market has increased in recent years due to greater flexibility as regards the rules and to simpler admission criteria.

The number of companies in the new market of the CSE rose to 21 in 2015.

Speaking at a press conference yesterday, the president of the Stock Exchange Marios Pilavakis, said that the new CSE market emerged as an important project of the CSE in recent years despite the difficult wider economic sentiment that prevailed.

Mr. Pilavakis said that there is interest from foreign companies and from Cypriot companies of foreign interests, for entering the new market.

Currently, there are 14 new securities applications awaiting examination for admission to the new market.

The NEW market, as Mr. Pilavakis noted, aims to address the low liquidity observed in CSE.

The CSE recorded losses for the sixth consecutive year in 2015.

The CSE general index closed the last trading session of 2015 at 67.75 points from 85.7 points at the end of 2014. Since the end of 2009, when the index reached 1597 points, the fall has reached 95.8%.