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Shares of Cyprus' largest bank to resume trading Dec 16 after 21-month hiatus

NICOSIA, Cyprus – In another sign that stability is slowly returning to Cyprus’ battered financial sector, shares in the country’s largest bank will resume trading on the bourse on Dec. 16 after a 21-month hiatus.

In a statement Friday, the stock exchange said around 8.9 billion common shares in the Bank of Cyprus will start trading at a price of 24 euro cents each ($0.30).

Trading was suspended in the wake of a 10 billion-euro rescue deal Cyprus agreed with international creditors in March last year that authorized bank deposit seizures to prop up the country’s banking system.