Interest in local bourse shows signs of revival
Investment interest in the Greek stock market appears to be experiencing a revival after a long time, with the prestige of the local bourse having taken a hard knock from the 1999 bubble and the continuing financial crisis.
Over the last decade, from 2008 to 2017, a total of 106 enterprises were delisted from the domestic stock market, but this year, for the first time since the listing of Anemos in April 2014, Athinon Avenue is expected to accept the first new entry.
R Energy 1 is planning to list its stock on the ATHEX Alternative Market by the end of the year. The company, founded and headed by Giorgos Rokas, is active in the construction and operation of photovoltaic parks. Its portfolio contains over 25 parks in Greece and Cyprus with a combined capacity of more than 3.2 megawatts.
Last Friday the company completed the acquisition of a photovoltaic park at Tachy, near Thiva, from listed company Elviemek for the price of 3 million euros. The turnover of R Energy 1 was estimated at 2.4 million euros last year, with operating profits (EBITDA) at 2.25 million euros and assets at 3.9 million euros.
Three more companies – Elval-Halcor, Kri Kri and Profile – are considering a placement of their shares with foreign investors to increase the free float of their stocks through the country’s bourse.
