CISCO is ranked among the top institutions in investment banking in Cyprus. CISCO undertakes the origination, structuring, marketing and pricing of public offerings and the private placement of equities and bonds. It also advises clients on financing strategies in the context of mergers and acquisition activities. CISCO has acted as a Lead Manager/Underwriter to over 50% of the companies that were floated during the period 1984 to 1999 and to over 30% of the newly listed companies in the last 2 years in terms of capital raised. Also, it pioneered the introduction of convertible bonds, floating rate bonds, warrants and call options. Over 90% of debt issues in the local market by listed companies and semi-government corporations were lead-managed by CISCO.

For selected project work within the Investment Banking framework click here.


Flotation Services
CISCO offers a complete range of flotation services advising and guiding its clients to successful capital issues and stock exchange listings. Its services commence from the pre-flotation stage during which it reviews its client and advises on the organizational and capital structure. It progresses to in-depth financial valuations in order to best structure the issue, determine the size and price and opt for the best timing. CISCO undertakes the preparation of prospectuses and listing particulars and all other relevant legal documents, the underwriting and selling of the issue as well as the management of the flotation. The latter service entails the co-ordination of all members of the professional team (lawyers, accountants) involved in the flotation procedure, the formation of the underwriting syndicate and the selling team, road shows to institutional investors and in general orchestrating all procedures leading to listing. Moreover, CISCO has established close relationship with major clients offering post-flotation services, assisting in subsequent capital raising programs, M&As, valuations and corporate advice.

Major client groups include: Louis Group, N.K Shacolas Group (F.W. Woolworth, CTC, Christies) Muskita Aluminium, Petrolina, Photos Photiades Distributors, Lordos Plastics, Lanitis Development, Golden Sun, Olympic Holidays Group, Olympia Shipholdings, Cyprus Airways, Leptos Group, Aristo Developers.

The ability of CISCO to offer a complete range of flotation services - integrated with excellent research backing, relations with institutional investors both in Cyprus and abroad (through Fund Management) and a strong selling team (Brokerage Services) - has been instrumental in attracting top-tier companies to choose CISCO to lead manage & underwrite their issues.

CISCO has successfully lead managed 14 out of 40 listings in the period 1984-1999 raising equity of £72,4m out of £141,2m raised totally in the market. In year 2000 it acted as the lead manager to 10 out of 45 flotations raising £112,5m out of £392,8 raised in total, whilst in year 2001 it assisted in the raising of £31,3m in 4 IPOs out of £66,6m. (raised by companies that do not belong in the financial services sector of the CSE).

For CISCO's experience with regard to some of the major recent assignments click here.


Issue of Bonds
Since its establishment CISCO has promoted with success the issue of straight bonds, convertible bonds, bonds with equity warrants attached, and floating rate bonds by public companies and public sector bodies. The amount raised over the period 1984-2001 by CISCO clients reached £137m.

The services offered by CISCO for the issue of bonds are similar to those offered for share issues (as outlined above) and includes reviewing of requirements and loan repayment ability, advisory role in setting up the terms of the issue, preparation of listing particulars/prospectus, management and underwriting of the issue and placement in the market.

CISCO leads the fixed income sector having lead managed over 90% of bond issues of corporate and public sector clients. For CISCO's experience with regard to some major transactions click here.


Private Placement of Shares and Bonds
In the case of a public company which, for various reasons, does not wish to address itself to the public at large in order to raise equity or loan capital, or in the case of a private company which is not in a position to make an issue to the public, CISCO can provide assistance in securing the required equity or loan capital through the private placement of an issue (of shares or bonds) with a limited number of investors. CISCO is in a position to invest in private placements of equity according to specific criteria, which govern the provision of venture capital.


Mergers, Acquisitions and Capital Structuring
Professional advice is offered on structuring and executing domestic transactions, mergers & acquisitions (including negotiation of terms and financing strategies), joint ventures, spin-offs, exchange offers and corporate restructurings. Furthermore, where necessary, CISCO undertakes the preparation of the offer document. It also establishes and maintains strategic dialogues with potential clients. Moreover, CISCO advises companies on possible ways to strengthen their capital structure and provides assistance in securing the necessary financing.


Financial Planning
CISCO undertakes financial planning studies for corporate clients in various sectors. Financial planning advice can also be offered to a company's management on an on-going basis.


Valuations
CISCO has undertaken numerous valuation assignments using financial modelling techniques, sensitivity tests and a range of other factors. CISCO undertakes valuations, which are often useful for share dealings, mergers, structuring terms of bonds and other financing deals.


Loan Syndication
CISCO can act as a coordinator in forming a syndicate to secure loans and/or guarantees from local and foreign banking institutions for large projects and undertakes bond issues. CISCO enjoys excellent relations with reputable local and foreign banking institutions. It is also one of the leading institutions in Cyprus with experience in public corporate bond issues.


Feasibility Studies
CISCO undertakes feasibility studies for investment projects in industry, tourism, trade and other services. Such studies contain all the information required to be submitted in order to secure loan project financing and investor participation. CISCO maintains contacts and cooperates, where warranted, with other consultants and advisers in various fields, local and foreign. Pre-feasibility studies are also undertaken and the client is advised as to whether to proceed with an in-depth study.


International Expertise and Exposure
CISCO has been involved in a number of international transactions, the most notable of which are the listing of the Bank of Cyprus Group on the Athens Stock Exchange, the issue of the BOC Global Depositary Receipts on the London Stock Exchange, the BOC convertible bonds on the Luxemburg Stock Exchange and the launching of the BOC Global Equity Fund on the Irish Stock Exchange. Meanwhile it advises a number of clients of Greek/Cypriot origin operating in foreign countries and prepares financial planning and feasibility studies for its local clients that expand to foreign markets and foreign clients aiming to operate in Cyprus. CISCO benefits from its international expertise, which it applies to introduce novel ideas into the Cypriot market and capitalizes on its relationship established through the co-operation with leading investment banks, consultants and professional services firms globally.