Mytilineos is proceeding with the placement of 4.5 million shares corresponding to 3.2% of the share capital.
The placement is conducted by Citi.
According to sources, the share package will be made available by companies of interests of Mytilineos, Frezia LTD and Kilteo LTD.
The shares belong to the company’s major shareholder Evangelos Mytilineos, who will hold a percentage of about 23% after the completion of the procedure.
An official announcement by the company will follow, according to “Naftemporiki” sources.
The specific move follows Mytilineos’ decision for a dual listing with entry to the London market, alongside the Greek market.
Upon the placement, the free float will be enhanced and more funds will be given the opportunity to increase their percentage within the company.
“This is a step reflecting the market confidence,” the same sources emphasized to “Naftemporiki”. There are still steps to be taken and placement is perhaps one of the most important moves.
