Mytilineos to go for dual LSE listing, expand in Italy - report

Greek industrial and energy group Mytilineos SA (FRA:MYH) plans to pour EUR 3.3 billion (USD 3.58bn) into its Italian business and pursue a dual listing on the London Stock Exchange, news agency ANSA reports.

The company's CEO Yiannis Kalafatas said during a company event in Milan that the procedure for a dual listing on the London Stock Exchange had started, with Morgan Stanley and Citi acting as advisors. Plans for a potential listing on an international stock exchange were unveiled in April.

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In the meantime, the Greek firm will aim to make Milan its renewable energy hub in Central Europe and spend billions of euros in the country over the next four years, the chief executive was cited as saying. Highlighting the abundant investment opportunities, along with favourable incentives and supportive regulations on the Italian renewable energy market, the CEO has added Mytilineos is open to mergers and acquisitions (M&A) in the energy field.

Mytilineos has a 3.6-GW renewable energy portfolio in various stages in Italy, including 2.4 GW of solar projects. The bundle also includes wind, energy storage and hydrogen schemes. According to the report, it will seek to boost its workforce to reach 250 by end-2024 and 400 by 2026 from the current 120.

(EUR 1.0 = USD 1.085)