Metlen: The Time Has Come for the LSE Listing

On the morning of Monday, August 4, Metlen PLC makes its debut on the London Stock Exchange (LSE) trading board.

From now on, it steps into the international stock exchange arena, with its shares officially starting trading on the LSE.

A New Chapter Begins

“This isn’t just a new page – it’s the next chapter in our exciting shared journey,” emphasized Evangelos Mytilineos, Chairman and CEO of Metlen, in a recorded message addressed to shareholders, thanking them for their trust and participation in the share exchange offer.

Mytilineos highlighted that more than 90% of shareholders participated in the offer, calling it “a clear message of confidence in our strategy.”

Metlen now becomes a representative of Greek entrepreneurship in London, while remaining deeply rooted in Greece.

In his video message, Mytilineos explained the significance of entering the LSE:

“Our listing in London will enhance our global visibility, improve our liquidity, and enable inclusion in the UK’s FTSE indices. This expands our access to international markets.”

He added that Metlen will maintain its dual listing on both the London and Athens Stock Exchanges, honoring its origins while remaining active in both markets.

$400 Million Inflows for Metlen

With its LSE entry, Metlen gains new tools for capital raising, expands international exposure, and strengthens its reputation as a serious institutional player in Europe’s industrial sector.

Importantly, Metlen’s core operations remain in Greece — including production, investments, factories, and jobs. The new corporate structure does not affect its tax residence, which remains in Greece, nor does it impact employees’ wages or rights.

International analysts, including JP Morgan, estimate that Metlen’s transition from emerging market indices (MSCI EM, FTSE EM) to developed market indices (MSCI Europe, FTSE Europe, Stoxx Europe 600) will have a net positive effect.

Over $400 Million in Passive Capital Inflows

Passive inflows from index-tracking funds are projected to exceed $400 million, more than offsetting any outflows. This significant capital movement is expected to boost the stock’s valuation and investor confidence.

Inclusion in these indices will also grant access to billions in passive capital, improve the company’s investment profile, and reinforce its strategic position in the global energy and metals markets.

Targeting the FTSE 100

Following the LSE listing, Metlen aims to join the FTSE 100 index — and according to market sources, this goal is almost certain to be achieved.

If successful, Metlen will be the first company in over a year to enter the FTSE 100 directly through a primary listing— a rare feat. The last such entry was Ocado Group in July 2024.

Over the past three years, only two companies have entered the FTSE 100 directly as primary listings:

• Alliance Witan (a merger of Alliance and Witan, October 2024)
• Haleon (a spin-off from GSK, July 2022)

Metlen would be the first ever company to join the FTSE 100 without coming from the FTSE 250 and without being a spin-off or merger, making it a historic entry.

Timeline for the Squeeze-Out Process

Following the LSE listing, Metlen will proceed with full ownership of Metlen S.A., leading to its delisting from the Athens Stock Exchange (ATHEX). Key dates include:

• August 4: Application to the Hellenic Capital Market Commission (HCMC) to begin the squeeze-out process
• August 7: Approval of the squeeze-out by the HCMC
• August 8: Start of 10 business-day countdown to trading suspension of Metlen S.A. on ATHEX
• August 22: Suspension of Metlen S.A. share trading on ATHEX
• September 5–8: Completion of the squeeze-out process; Metlen PLC owns 100% of Metlen S.A.
• September 8–9: General Assembly of Metlen S.A. to approve delisting from ATHEX
• September 12: Delisting approved by HCMC
• September 15–16: Final delisting of Metlen S.A. shares from ATHEX

Source: pagenews.gr