Sunday Jan 25, 2015 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Shares in Greek renewable energy firm drop in trade debut

By Angeliki Koutantou

Shares in Greek renewable energy firm ELTECH Anemos dropped on their first day of trading on the Athens Stock Exchange on Tuesday, as traders said its initial public offering price was seen as expensive.

Anemos offered shares to the public on July 9-11 in the country's first IPO since its debt crisis began in 2009. The issue was slightly oversubscribed, with the offer price set at 1.70 euros, at the bottom of the price range.

At 0830 GMT Anemos shares were down 5.9 percent at 1.6 euros, underperforming the Athens bourse general index, which was down 0.6 percent.

"Investors are deeming Anemos's issue price expensive compared to its Greek peers, so they are selling," Takis Zamanis, a trader at Beta Securities, said.

Anemos, a unit of Greece's biggest construction group Ellaktor, is a mid-sized renewable energy producer that operates 12 wind parks, a solar plant and a hydroelectric plant with 170 megawatts in total installed capacity.

The company has said it will use the IPO proceeds to finance part of a 118 million euro investment plan for new wind parks, which will add about 94 MW in capacity by 2015.hel

Renewable energy is one of few industries in Greece that has continued to expand through the recession, thanks to generous state subsidies.

Greek stocks have been battered by six years of recession and the debt crisis, which forced Athens to turn to the European Union and the International Monetary Fund for about 240 billion euros in aid.

But sentiment has picked up since Athens raised money successfully on the international bond markets twice this year after a four-year exile. [Reuters]

ekathimerini.com , Tuesday Jul 22, 2014 (12:43)  
Draghi’s QE promise to Greece depends on debt-market math
Eurozone to discuss another extension
S&P sees red over ‘Euroskeptic’ governments
Prospect of elections sent new tax debts soaring last month
Greeks vote for reform path or defiance
Greek voters are going to the polls today in an election that will determine whether the country that triggered the euro-area debt crisis five years ago holds to the path of economic reform ...
Greek Elections 2015 | LIVE
Follow our 2015 Elections Blog for live coverage of all the breaking developments in today’s general election. You can also follow us on Twitter: @ekathimerini 09.11 Good morning fellow elec...
Inside News
SOCCER
Olympiakos overcomes depleted OFI at Iraklio
Easy though it may seem, Olympiakos’s 3-0 win at depleted OFI Crete was rather difficult on Saturday, but was enough to keep the Reds on top on Saturday, as they have maintained their two-po...
BASKETBALL
Tremendous Spanoulis sweeps Laboral Kutxa
A hot second half was enough for Olympiakos to undo visiting Laboral Kutxa and score its fourth win in as many games at the second round of the Euroleague on Friday. The 76-64 final score wa...
Inside Sports
COMMENTARY
The train
If we go by the polls, SYRIZA is set to win Sunday’s election and form a government. New Democracy did not really campaign, or perhaps it did so in a way that can only be explained if the pa...
EDITORIAL
The future is in your hands
On Sunday we will vote in a landmark and unique election. It is a landmark vote because what is at stake is whether Greece will be cut off from Europe’s core, whether certain necessary refor...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greeks vote for reform path or defiance
2. Greek Elections 2015 | LIVE
3. Olympiakos overcomes depleted OFI at Iraklio
4. Draghi’s QE promise to Greece depends on debt-market math
5. Tremendous Spanoulis sweeps Laboral Kutxa
6. Eurozone to discuss another extension
more news
Today
This Week
1. Greek Elections 2015 | LIVE
2. Greeks vote for reform path or defiance
3. Draghi’s QE promise to Greece depends on debt-market math
4. The train
5. The future is in your hands
6. Greek Elections 2015 | LIVE
Today
This Week
1. Piraeus Bank is third lender to request ELA
2. Grexit the only way out of ‘valley of tears,’ says Hans-Werner Sinn
3. Fitch lowers Greece credit outlook to 'negative'
4. Greek Elections 2015 | LIVE
5. No debt writedown or rolling back of reforms for Greece, says Finland's Stubb
6. Greeks fork out nearly 5 pct of their incomes on telecom services
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.