27th Jun 2025 11:12
(Alliance News) - Metlen Energy & Metals on Thursday said it expects to start trading on the London Main Market on Monday, August 4, confirming a rare win for the London Stock Exchange.
Athens-based Metlen is currently traded on the Athens Stock Exchange. It will move its primary listing to London, while retaining Athens as a secondary listing.
The initial public offering in London will be led by Citigroup Global Markets Ltd and Morgan Stanley & Co International PLC as joint sponsors.
Metlen currently has a market capitalisation of EUR6.71 billion, so it would be a candidate to enter the FTSE 100 index in the first quarterly review following the IPO.
As part of its listing, Metlen Energy & Metals PLC will replace Metlen Energy & Metals SA as the group's ultimate parent company, and the company on Thursday launched a share exchange programme to effect that change. However, Metlen said its "commitment to Greece will remain unaffected", maintaining its operations, investments and human resources there.
Metlen produces aluminium from its plant in Viotia, Greece, and produces electricity from assets including gas-fired power plants and solar and wind farms. In the UK, it is part of a consortium building an electricity cable between Scotland and north-east England.
By Tom Waite, Alliance News editor
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