Funds exceeding 78 billion euros have been invested in Greek companies over the last 12 months. As a result the market seems to be recovering its pace as well as its self-confidence, having recorded a spectacularly strong capital mobility after the multi-year economic crisis.
Funds, bonds, bank loans, Recovery Fund, NSRF, investments, private equity, acquisitions, sales, mergers, IPOs, loan restructurings, ambitious business plans dominate the market which is starting to point to a healthy and “normal” economy, healing the “wounds” of the memoranda.
In the last 12 months, funds of more than 78 billion euros have changed hands, invested, and enhanced the resilience of the Greek economy, building a strong defense zone against possible future challenges. Of these, in fact, almost 14.5 billion euros have “passed” through the Athens Stock Exchange, which is starting to fulfill its real role, which is to support the economy.
Almost 14.5 billion euros through the Athens Stock Exchange
Companies listed on the Athens Stock Exchange, whether they are large or small, seem to have assumed a leading role in this long chain of capital mobility, which includes acquisitions, placements and share capital increases.
More specifically, from the fourth quarter of 2023 until today, at least 50 such transactions have been recorded, having rekindled investment interest. And this is reflected both in the value of the daily transactions and in the marketability of the securities.
Placements
A large part of the corporate actions of the last 12 months concern the so-called placements, with the main shareholders who own a part of the share capital opening the door to new investors and “fresh” capital.
Equity changes
Some additional share changes have attracted the interest of the market, such as for example the transfer of 9% of the shares of Alpha Bank to UniCredit, the acquisition of 2% of Lamda Development by the Prokopiou family, the transfer of 27% of Intercontinental to BriQ or the entry of shipbuilding funds into Q&R.
Public Proposals
Takeovers and public proposals can drive some listed companies off the stock market, but at the same time increase the liquidity of shareholders. Terna Energy, Epsilon Net, Entersoft and Reds are some of these cases, through which investors secured more than 3 billion euros.
Share Capital Increases
Through the IPOs, which have been carried out or announced in the last 12 months, the market has managed to attract “fresh” money worth 1.2 billion euros, enriching and strengthening the power of the listed companies.
IPO
On the front of new listings, the Athens stock market has now welcomed five companies from October 2023 to date through Initial Public Offerings (IPO), raising more than 1 billion euros of new capital.
Bonds
Corporate bonds provide investors with yet another option to capitalize on existing goodwill, as a total of three corporate securities have been introduced in the relevant market in the last 12 months, with a cumulative value of 430 million euros. Last but not least are the non-negotiable bonds of Metlen and PPC, amounting to 750 and 600 million euros respectively.
