Initiation of the process for a primary listing of METLEN Energy & Metals on the London Stock Exchange

Rhea-AI Summary

METLEN Energy & Metals SA (ATHX: MYTIL) has initiated the process for a primary listing on the London Stock Exchange, planned for 2025. The company has filed a draft listing prospectus with the UK's Financial Conduct Authority for review, following a strategic review announced in April. The listing will be executed through METLEN Energy & Metals , a newly established UK company that would become the group's ultimate parent company.

While maintaining a secondary listing on the Athens Stock Exchange, this move reflects METLEN's expanding global presence and aims to enhance shareholder liquidity. The decision follows similar precedents in the Greek market and aligns with the company's strategy for continued growth and value creation.

Positive

• Potential enhanced liquidity for shareholders through London Stock Exchange listing
• Strategic expansion of market presence through dual listing structure
• Maintains existing Athens Stock Exchange listing as secondary market

Negative

• None.

ATHENS, Greece & LONDON, Dec. 16, 2024 /PRNewswire/ -- METLEN Energy & Metals SA ("METLEN") (ATHX: MYTIL) (formerly MYTILINEOS), a leading global industrial and energy group, announces that a draft listing prospectus in connection with the listing of the shares of a newly UK established company, METLEN Energy & Metals Limited ("METLEN Limited"), has been filed with the UK's Financial Conduct Authority (FCA) for their review. It is intended that METLEN Limited would become the ultimate parent company of the METLEN group, in line with similar precedents in the Greek market. This is the first step in the regulatory process required for a potential listing on the London Stock Exchange in 2025.

The filing with the FCA follows the conclusion of a strategic review by METLEN, announced in April of this year, which considered a potential listing on an international exchange, including the London Stock Exchange, within the following 12-18 months.

A primary listing in London, whilst retaining a secondary listing on the Athens Stock Exchange, reflects the increasingly diversified geographical presence of the METLEN group and its strategy to continue to deliver growth and value creation while seeking to offer enhanced liquidity to its shareholders.

Evangelos Mytilineos, Chairman of METLEN Energy & Metals said, "I am delighted we have concluded our internal extensive strategic review and that the listing process in London has officially started. METLEN group has had a presence in the UK and international markets for many years. We believe that the listing on the London Stock Exchange will be in the best interests of both METLEN and its shareholders."

Further updates on progress will be provided in due course.

Forward Looking Statements 

Certain statements in this announcement are forward-looking. By their nature, forward looking statements involve risks, uncertainties, assumptions and other factors that are outside the control of METLEN and could cause actual results or events to differ materially from those expressed or implied by the forward-looking statement.

METLEN:

METLEN Energy & Metals – evolution of MYTILINEOS Energy & Metals - is a multinational industrial and energy company, a leader in the metallurgy and energy industries, focused on sustainability and circular economy. The Company is listed on the Athens Stock Exchange, with a consolidated turnover and EBITDA of €5.492 billion and €1.014 billion, respectively. METLEN is a reference point for competitive green metallurgy at the European and global level, whilst operating the only vertically integrated bauxite, alumina and primary aluminum production unit in the European Union (E.U.) with privately owned port facilities. In the energy sector, METLEN offers comprehensive solutions, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage, and other green technologies. The Company is active in the markets of all five continents, in 40 countries, adopting a full-scale synergetic model between the Metallurgy and Energy Sectors, while undertaking end-to-end development of major energy infrastructure projects.

For more information, please visit: www.metlengroup.com | Facebook | Twitter | YouTube | LinkedIn 

Logo: https://mma.prnewswire.com/media/2430163/4743706/Metlen_Logo.jpg

 

FAQ

When is METLEN Energy & Metals (MYTIL) expected to list on the London Stock Exchange?

METLEN Energy & Metals is expected to list on the London Stock Exchange in 2025, following the regulatory review process initiated in December 2024.

Will METLEN Energy & Metals (MYTIL) maintain its Athens Stock Exchange listing?

Yes, METLEN will maintain a secondary listing on the Athens Stock Exchange while establishing a primary listing on the London Stock Exchange.

What is the purpose of METLEN Energy & Metals 's UK establishment?

METLEN Energy & Metals is being established in the UK to become the ultimate parent company of the METLEN group, facilitating the London Stock Exchange listing.

How will the London Stock Exchange listing benefit MYTIL shareholders?

The London Stock Exchange listing aims to offer enhanced liquidity to shareholders while supporting the company's growth strategy and value creation.