ECONOMY

Mediterra shares soar on firm’s listing

Mediterra shares soared on their market debut yesterday as the stock became the second to be listed on the Athens bourse’s alternative market EN.A. Mediterra, a producer of mastic – a resin-like extract from trees found mainly on the Greek island of Chios and used to make chewing gum, cosmetics and jams, and to flavor beverages – rose 42 percent from its listing price. The stock closed at -2.75, having been issued at -1.94, joining software company Epsilon-Net on EN.A. The IPO raised -2.1 million via a private placement of 1.09 million shares. The company was advised by Attica Bank and Grant Thornton. Hellenic Exchanges, the operator of the Athens stock and futures markets, launched EN.A for fast-growing small companies last week. EN.A’s listing requirements are looser than for the Athens bourse’s regular market to give small companies the ability to gain a stock market listing that will allow them access to capital to fund their development and groom them for later transfer to the main market.