Greece downsizes target for 3rd battery storage tender - report
Sep 18, 2024 10:26 CESTGreek industrial and energy group Mytilineos SA (FRA:MYH) unveiled today that it is considering a potential listing on an international stock exchange, including the London Stock Exchange (LSE) with regard to its increasingly diversified geographical presence and wish to offer enhanced liquidity to its investors.
The idea comes as part of a broader review of strategic options for the business, prompted by the company’s strong performance in meeting targets and strategic goals, it noted in a press statement.
As part of the assessment process, the Athens-based company will consider various organic and inorganic growth opportunities, its capital allocation model, optimal balance sheet structure and appropriate listing structure.
The listing process is anticipated to unfold over the next 12 to 18 months, with the Greek firm expressing its intention to continue trading its shares on the Athens Exchange where it has been listed since 1995.
Citigroup Global Markets Europe AG and Morgan Stanley & Co International plc are acting as financial advisors to the company in the strategic review.
Mytilineos describes itself as a leading player in “green” metallurgy at European and global level, operating the only vertically integrated bauxite, alumina and primary aluminium production unit in the EU. The Greek firm is also active in the energy sector, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage and other green technologies.
Shares in Mytilineos traded 0.26 % lower at EUR 38.4 as of 1029 EEST in Athens. It has a market capitalisation of about EUR 5.5 billion (USD 5.87bn).
(EUR 1 = USD 1.069)
Greece downsizes target for 3rd battery storage tender - report
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