Greek energy firm Mytilineos 'highly likely' to move €5bn listing to London Stock Exchange in huge City boost

The City could get a much-needed boost as €5bn Greek energy firm Mytilineos set out plans to consider moving its stock listing from Athens to an international exchange, and the London Stock Exchange is the front runner. Mytilineos currently sells its shares in Athens, where it is the seventh-largest listed business. But today the energy giant, which employs 6,500 people worldwide, launched a strategic review on how to “drive value” for shareholders. The review, it said, could result in a change in where the business is listed. It singled out the London Stock Exchange as a possible new destination, and the Standard understands that it is highly likely to choose the City. If Mytilineos does list in London, it is likely to be a primary listing, meaning the business - with a  €5.2 billion market cap - would enter the FTSE 100. It would keep a secondary listing in its home country. It would be the first newly listed firm to immediately join London’s top flight since Deliveroo’s blockbuster IPO in 2021. Mytilineos said a new listing outside of Greece could take place over the next 12-18 months. The proposed new listing could help to reverse the fortunes of the...

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