Mytilineos is considering the possibility of listing its shares on an international exchange, including the London Stock Exchange, within the next 12-18 months as part of its strategic review.
However, as emphasized by the company, Mytilineos remains committed to its contribution to the Greek economy and society, while expecting to maintain its presence on the Athens Stock Exchange.
“Having consistently and repeatedly exceeded its medium-term as well as strategic goals, Mytilineos Energy & Metals has initiated a review and evaluation of its strategic options, in collaboration with its financial, legal and tax advisors, with a view to continued development and creating value for its shareholders.
As part of this comprehensive strategic review, Mytilineos will evaluate various organic and non-organic growth opportunities, its capital allocation model, its capital structure and the most suitable trading structure for its shares on an organized market (listing structure).”
Mytilineos is “committed to further international development, leveraging its established and diversified geographical presence and always relying on its Greek heritage, inventiveness and entrepreneurial spirit, in the context of a strong corporate governance environment.”
The company is also “considering listing its shares on an international stock exchange, including the London Stock Exchange, within the next 12-18 months, taking into account its increasingly diversified and international geographic presence and aiming to enhance marketability of the stock for the benefit of investors.”
As clarified, “regardless of the outcome of this strategic assessment, Mytilineos remains committed to its contribution to the Greek economy and society, with significant and robust activities in Greece, the generation of tax revenues and with the expectation of maintaining its presence on the Athens Stock Exchange, where Mytilineos has been listed since 1995.”
Strengthening the international scope and domestic position of the company
“Mytilineos has achieved a significant transformation during the last years, which is also proved by the revenues and profitability that have now increased to the levels of a major European company. Mytilineos seeks to further strengthen its already wide international scope as well as its already strong domestic position.”
The evaluation of its strategic options, according to the company, “is intended to ensure that Mytilineos maintains its growth trajectory, remaining fully aligned, in all business areas, with its long-term strategic vision, while maximizing value created for shareholders.”
Citigroup Global Markets Europe AG and Morgan Stanley & Co. International plc are acting as financial advisors to Mytilineos in evaluating its strategic options. Clifford Chance LLP acts as international legal counsel. Zepos & Giannopoulos acts as legal advisor under Greek law. EY acts as an international tax advisor.
