Greece's Mytilineos considering secondary listing in London
By Michele Maatouk
Date: Thursday 25 Apr 2024
(Sharecast News) - Greek industrial and energy company Mytilineos said on Thursday that it was considering a potential secondary listing on the London Stock Exchange.
Mytilineos said it was initiating a review and evaluation of its strategic options, "with a view to continuing to deliver growth and value creation for shareholders".
The company said it was considering a potential listing on an international exchange - including the London Stock Exchange -within the next 12 to 18 months. It cited its "increasingly diversified geographical presence" and a desire to offer "enhanced liquidity" to its investors.
It added that regardless of the outcome of the strategic review, it remains committed to its contribution to the Greek economy and plans to retain a listing on the Athens Exchange, where it has been listed since 1995.
Also as part of the review, Mytilineos will assess various organic and inorganic growth opportunities, its capital allocation model, optimal balance sheet structure and appropriate listing structure.
"Mytilineos is committed to international growth, capitalising on its established geographically diverse footprint, always building on its Greek heritage, ingenuity, and entrepreneurial spirit, within a robust governance environment," it said.
The news follows announcements in recent months from the likes of Tui, CRH and Flutter, all of which are planning to move their primary listings away from the London market.
Travel firm Tui said in February that it was abandoning London from a primary listing in Frankfurt. Meanwhile, CRH and Flutter have both announced plans to move their primary listings to the US.
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