Listings and bond issues are soaring
Greece’s investment grade recovery, expected to reduce borrowing costs for businesses while opening the door to a larger investor audience, combined with the start of the ECB’s rate-cutting cycle, is accelerating activity for listed companies, supporting new issues of corporate bonds and fresh listings on the Athens Stock Exchange.
Last year Greek listed companies raised 1.74 billion euros on the stock market rom private placements, share capital increases, dividend reinvestments, bond issues and new inflows.
In particular, just two bond issues were carried out – by Mytilineos and Ideal Holdings – and three public registrations (Optima Bank, Trade Estates and Orilina Properties), with the total capital raised from these five operations amounting to €834 million.
The other €900 million concerned share capital increases, private placements and dividend reinvestment.
New listings and bond issues in January-June 2024 will raise at least €1.25 billion. It is estimated that the introduction of Athens International Airport will significantly improve the prospects of upgrading the local bourse to the developed markets category.
