Gold Magazine February - March 2013, Issue 23 | Page 12

GREEK GOVERNMENT

BONDS BUYBACK

AXIA VENTURES GROUP ACTS AS FINANCIAL ADVISOR TO
INSTITUTIONAL INVESTORS

A

xia Ventures Group (AVG) has been
acting as financial advisor to a number
of institutional investors and holders of
Greek government bonds in relation to
their participation in the tender offer process announced by the Hellenic Republic
for the buyback of certain designated
securities. These investors, including funds managed by Falcon
Edge Capital, GSO Capital Partners LP, Monarch Alternative Capital LP, Perry Capital, Third Point LLC, York Capital
Management, represent a substantial portion of the
total €61.5 billion of outstanding designated
securities. Axia Ventures Group is a privatelyowned investment banking boutique providing financial advisory and capital marketrelated ser vices to corporate and institutional
clients, headquartered in Nicosia.

A

total of €1.6 trillion
(13% of the EU’s
GDP) was granted by
national governments
to EU banks between October
2008 and 31 December 2011,
according to the European
Commission’s 2012 State
Aid Scoreboard. The bulk
(67%) came in the form of

TOP 10
INVESTMENT
FIRMS
IN CYPRUS
According to the Cyprus

Securities & Exchange
Commission (CySEC), the Top
10 investment firms in Cyprus,
ranked by the size of their Eligible
Own Funds as at 30/09/2012,
are the following:
1. Reserve Invest (Cyprus) Ltd
2. SIB (Cyprus) Limited
3. Alfa Capital Holdings (Cyprus) Ltd
4. Renaissance Securities (Cyprus) Ltd
5. BrokerCreditService (Cyprus) Ltd
6. NKB Investments Limited
7. Windsor Brokers Ltd
8. TDAM (Cyprus) Ltd
9. Otkritie Finance (Cyprus) Limited
10. FxPro Financial Services Ltd

state guarantees on banks’
wholesale funding. Support
to the real economy on the
basis of temporary crisis
rules dropped to €4.8 billion
in 2011, a fall of more than
50% compared with 2010,
reflecting both a low uptake by
companies and the budgetary
constraints of most EU member

ΙΜΗ TO

ORGANIZE

3rd
ANNUAL

GREEN DOT
AWARDs

Ι

ΜΗ and the IN Business team
will be organising the 3rd
annual Green Dot Awards,
honouring companies,
individuals and organisations
promoting improvements to
the environment in Cyprus. The
ultimate objective of the event
is to recognize their activities
and to promote the importance
of environmental protection. The
Awards Committee has already
held its first official meeting at
which the rules and processes
for this year’s event were agreed
upon. The Awards Ceremony will
take place in the summer.

states. Between 2008 and 31
December 2011, €1.616 billion
was actually used to support
financial institutions. This was
composed of:
• Liquidity support: €1,174
billion (9.3% of EU GDP)
average outstanding state
guarantees on banks’ funding
and other (short-term)

liquidity support measures.
• Measures to support bank
solvency: €442 billion (3.5%
of EU GDP) in recapitalisation
measures and treatment of
impaired assets. Three Member
States accounted for nearly
60% of the total aid used: United
Kingdom (19%), Ireland (16%)
and Germany (16%).

New Offices
in Limassol

P

residential candidate Nicos Anastasiades officially opened
the new offices of IronFX in Limassol on 10 January. IronFX is a global leader in online trading, specializing in Forex,
CFDs on US and UK stocks, commodities, spot metals
and binary options. The company, which is part of an international
financial services group founded in 1972, claims to offers best service,
cutting edge in-house technology, unmatched execution, best-ofmarket product range and the lowest spreads in the market.