BUSINESS

Companies leaving Athens stock market in droves

TAGS: Stocks, Finance, Economy

The crisis may have battered the local economy but has benefitted to a great extent the Greek stock board’s quality: For the first time since 1997 the number of ATHEX-listed companies is below 200, at 197.

In the 20 years from 1997 to 2016 there were 239 delistings and in the first seven months of this year another 12 companies left Athinon Avenue, taking the total number of exits to 251 so far.

The Capital Market Commission wants by the end of the year to see the delisting of enterprises that have stopped their activity and constitute so-called “zombie companies” without the prospect of returning to normal operation. Besides the delistings of problematic enterprises, the Athens Exchange has also been losing healthy companies again this year.

In 2017 there has actually been an increase in profit-making firms leaving the bourse, several of them being exporters as well.

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