Athens Stock Exchange: Hit the gas with new introductions and investment grade

It’s enough nine months to say that Athens Stock Exchange Has he already returned from his many exiles? As impressive as his earnings from End of September 2022The answer to the question is negative. Several other things are needed to convince us that the return is final.

To use an analogy – perhaps too ambitious – in football, when after years the football team returns to the English language Premier League He must be very careful not to immediately fall back to the lower class. Large salons also have great requirements. Staying in the football world, stable management is not enough, and it is definitely guaranteed June 25th.

The large amount of money is not enough, which has already begun to enter and will logically continue with greater intensity after the expected upgrade, and perhaps very soon, of the country’s credit rating by international rating agencies. The coach, players and fans need crucial help. In our case, the coach is its management He hasThe players are the listed companies and the fans are, of course, the investors. The first indications make us quite optimistic about the continuation and make us believe that there are sufficient chances to see the ASE not only continuing its good trajectory but raising its bar both quantitatively and qualitatively.

manage it He has He seems to know what he has to do, based on what we’ve heard recently. Its efforts to make things easier for investors by reducing transaction costs and adjusting trading rules are definitely in the right direction. Listening to the company’s officials talking about the company’s priorities for the coming period, we understand that they know very well the importance of introducing new companies to the Athens Stock Exchange, something we have seen done in a systematic manner for more than 15 years.

So what we are waiting to see are the announcements of the companies that will decide to pass through the doors of the Athens Stock Exchange. Things are good in this area, as there are already several cases of companies that have initiated relevant actions. Without a doubt, the most famous case is that of the Athens International Airport, that is, the airport Eleftherios Venizelos. This introduction has been “in the works” for several years but has run into major hurdles that have set it back a long way.

The pandemic, the war in Ukraine, and the prolonged pre-election period in the country were events that forced the company’s management and the main shareholder, who is Greek stateto freeze the path to a. But now there are no such hurdles anymore and from what we have learned it takes a few months to get their shares into the main market of the Athens Stock Exchange.

its entrance Dr.. It will be a landmark for the Greek stock market, as it is a large and very successful company, known all over the world and particularly interesting as an investment for international mutual funds, pension funds and insurance companies. Of course, apart from the airport, in a few months we will certainly welcome some companies from A. (Real estate investment companies). Commercial properties, which belong to the listed company group Fourlis (FRLK), and Noval Properties, part of Viohalco SA (BIO) group, appear to have been around just prior to their offering, while press information also indicates the planned introduction of Orilina properties.

As long as the above estimates are not refuted, it is very reasonable to expect the gradual emergence of other interested firms from other sectors of the economy. It may not seem like much at the moment, but when it starts to look like a company that can go public and raise significant capital, interest from other companies will surely start to spring up all of a sudden.

In addition to offering company shares, the Athens Stock Exchange also has a second pillar of capital raising, namely bond issues. This activity came to an abrupt halt at the end of 2021 due to international uncertainty caused by a significant rise in inflation and a possible subsequent (and later officially confirmed) rise in interest rates by central banks.

In contrast to the new company introductions that we hope to see in the fall, we have a very dynamic start to our bond issuances. Tomorrow, July 4, the public offering of a new seven-year corporate bond issued by the listed company Mytilineos (MYTILINEOS) will start. The large size of the issuance (the largest so far since these records began in 2016) gives us an idea of ​​the prospects for new money entering the exchange. 500 million euros is a very important amount, not only for Greece but also for international data.

Entry of new stocks in AE and borrow others Through new bond issuances, very important steps are taken to maintain the good track of the Athens Stock Exchange and to remind everyone of one of the essential roles of stock exchanges, which is financing of business and economics.

However, waking up the already listed companies will also be very important. We have already seen many moves in this direction and we will probably hear more soon. As an example, we cite the developments in the construction company INTRAKAT (INDKA), first with the entry of new investors, then with the highly successful large capital raise and then with the business moves of new management. Also of importance are the moves of Ideal Holdings (INTEK), which started a few months ago with the acquisition of unlisted companies, continued with the acquisition of the information technology company Byte and recently announced another important acquisition.

Let’s not forget about operations in the corporate field AEAP Whereas, Briq Properties (BRIQ) has agreed to be absorbed through the merger of Intercontinental International (INTERCO). In addition, the circulating press information also indicates imminent increases in the capital of listed companies that are considering requesting the help of investors to achieve their investment plans in a safer and more efficient manner.

Going back to what we said at the beginning, the political stability and the upward trajectory of the Greek economy that will soon be adopted through the return to investment grade provide the safe and solid ground. Athens Stock Exchange To maintain the gains from the excellent run of the past nine months and try to move to a higher level both in terms of quality and quantity. management intentions a. And the indications of next moves for listed companies as well as those other companies that are willing to share their success with the investment public makes us optimistic that we can actually climb this. Level up.

Returning to our football analogy, things are very simple: just as fans focus on television screens and fill stadiums when good football is being played, so will investors. Athens Stock Exchange when it upgrades.