Metlen Energy & Metals has formally started the process for its listing on the London Stock Exchange. The group, which will also continue the trading of its stock on the Athens Stock Exchange, announced it has submitted the application required.
“I am delighted that we have completed the strategic review and that the listing process on the London Stock Exchange has officially begun. Metlen has had a presence in the United Kingdom and in international markets for many years. We believe that the listing on the London Stock Exchange will be to the benefit of both Metlen and its shareholders,” said Evangelos Mytilineos, head of Metlen Energy & Metals.
As announced, Metlen has submitted a draft public offer to the Financial Conduct Authority (FCA) of the United Kingdom for assessment, for the listing of the shares of the British company Metlen Energy & Metals Limited. Metlen Limited is expected to be the listed company of Metlen. This is the first step in the process for a potential listing on the London Stock Exchange in 2025.
“A primary listing on the London Stock Exchange, while maintaining a secondary listing on the Athens Stock Exchange, reflects Metlen’s growing geographic footprint and its strategy to continue to deliver growth and value creation to its shareholders, while seeking increased liquidity,” the announcement said.
The filing with the FCA is the culmination of Metlen’s strategic review, announced in April, which assessed a potential listing on an international stock exchange, including the London Stock Exchange, within the next 12-18 months.
With the entry into the London Stock Exchange and the FTSE 100 index, the marketability of the Greek company’s stock will increase significantly, while its access to international capital markets is also expected to be strengthened, in order to support investments for its further development.
According to the January-September 2024 results, Metlen has remained on an upward trajectory in profitability, achieving record performances both at the nine-month and quarterly levels, led by the energy sector. In addition to the significant contribution of M Renewables, the energy sector is also benefiting from the substantial strengthening of the Greek gas and power supplier.