The merger of OPAP with Allwyn, with a valuation of close to 16 billion eurosreinforces the dashboard of the Athens Stock Exchange (Ha) with one of the heaviest “papers”, forming a new era for the Greek market.
For this ASE it translates into reinforcement of its prestige by giving the potential of powerful large capitalizations that can attract wider institutional interest.
In terms of dispersion, after the transaction, Allwyn will control about 78.5% and the other shareholders around 21.5%. In practice this means a smaller ‘free’ rate of shares than today, so it is likely to reduce the weight of the stock on the indicators that weigh free float (FTSE/Athex Large Cap, MSCi, etc.). But it remains within the Rules of the ATHEX for large capitalizations, so the title retains its presence in the basic indicators.
According to the plan, there is a second introduction to the new share in London or New York, which aims in the first half of 2026.
Technically, when the act is completed we will see renaming Allwyn and the relevant weighting adjustments. In the short term, “technical” movements are expected as the indicators will be adapted to the new Free Float, with possible fluctuations in the share.
On the front of the shareholders, the OPAP intermediate dividend is already running, EUR 0.50 per share, for November 2025. After completing the merger, a dividend of EUR 0.80 per share is foreseen by the new single company for the use of 2025, which keeps the investment interest alive.
Finally, the fact that an international brand with a powerful Greek footprint remains in Athens, as the Euronext Deal for Athex is evolving, reinforces the ATHEX profile as a regional hub of capital.