In a landmark development for capital market in Greece, the European stock market Euronext confirmed the intention acquisition of the majority percentage of Athens Shipowner (Ha), integrating the Greek market into the network of major European trading platforms.
The proposal, which provides for the acquisition of 65% of HELEX, the company that manages the ATHEX, paves the way for the Athens interconnection with other European metropolises.
The acquisition is not just about shares and infrastructure. The ATHEX becomes a member of a pan -European shopping network along with Paris, Brussels, Amsterdam, Lisbon, Dublin, Milan and Oslo. This implies increased visibility for Greek shares in European (and global) institutional investors.
What are the benefits for Greek investors
According to the plan, the transactions will be transferred to Euronext’s advanced Optiq platform, which offers faster execution, greater stability and better interface with investors. This means improved experience for investors and lower operating costs for stock markets and listed.
Greek companies will be able to draw capital or even access not only the Greek market, but also to other Euronext platforms. The Euronext Growth example is characteristic for media.
At the same time, EURONEXT integration is accompanied by stricter corporate governance, transparency and compliance standards, which enhances the solvency of the Greek market.
For Greece, the possible agreement comes at a time when the need to restart the capital market is intense. Despite the economic recovery, domestic imports to the ATHEX remain limited and market capitalization is low compared to GDP. Integration into Euronext can act as a catalyst, provided that the state and businesses will take the opportunity.
The Athens Stock Exchange is now entering Europe’s “big club”. Whether this new era will perform will depend on whether Greece will be able to turn access to real growth for the domestic market and its investors.