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Highlights:
- Strategic London Listing Announced: METLEN Energy & Metals begins the process for a primary listing on the London Stock Exchange while maintaining a secondary listing in Athens.
- Valuation and IPO Prospects: With an approximate valuation of €4.8 billion, the company positions itself as a potential FTSE 100 candidate.
- Boost for London’s Market: The move comes as a rare win for the capital markets in London amidst challenges with company listings in recent years.
In a move that could inject life into London’s struggling capital markets, Athens-based multinational METLEN Energy & Metals has announced plans for a primary listing on the London Stock Exchange (LSE). The announcement follows the submission of a draft prospectus to the UK Financial Conduct Authority for review.
The company, which currently trades on the Athens Stock Exchange, will retain its secondary listing in Greece. This dual-listing strategy is part of METLEN’s broader plan to increase its international presence and provide enhanced value to its shareholders.
Strategic Review Confirms London Listing
Earlier this year, METLEN conducted a comprehensive strategic review to assess potential international listing opportunities. After extensive deliberation, the company concluded that London offered the best platform for future growth and shareholder engagement.
“I am delighted we have concluded our internal extensive strategic review and that the listing process in London has officially started,” said METLEN’s chairman, Evangelos Mytilineos.
The company noted its long-standing presence in UK and international markets, emphasizing that a primary London listing aligns with its ambitions for global expansion.
IPO Expected in 2025
METLEN is projected to officially list on the LSE sometime in 2025. With a current valuation of approximately €4.8 billion (£4 billion), it could become a contender for inclusion in the FTSE 100 index. This valuation underscores the company’s significance within the energy and metals sector, positioning it as a major player on the global stage.
London’s Capital Markets Gain Momentum
The decision by METLEN comes at a time when London’s financial markets have faced challenges, with numerous companies opting for listings in the US or being taken private by equity firms. The LSE’s struggles to attract major new listings have made METLEN’s announcement a notable victory for the exchange.
METLEN’s move follows the listing of French film and TV company Canal++, which recently launched the largest London IPO in two years. These developments signal a potential turnaround for the London market as it competes to retain its global appeal.
METLEN’s Market Presence
METLEN Energy & Metals has built a reputation as a leading player in the energy and metals industries, with strong operations across multiple international markets. Its dual-listing strategy is expected to bolster its visibility and provide greater liquidity for its shares, benefiting both new and existing investors.
As METLEN moves forward with its London listing, the company is set to become a key contributor to revitalizing the Square Mile’s position as a premier global financial hub.
