Two new share listings are expected to be completed by August 15, according to sources, while three share capital hikes will be done in the same period, in an unusually busy period for the Athens stock market (ATHEX). At a time where there is a flurry of new share listings globally, marking a 20 year high in the first quarter of the year, the Athens bourse is trying to re-emerge and claim the role that a stock market should have. In particular, by August 15, the shares of Eurochartiki are seen being listed on the ATHEX’s Main Market, with Real Consulting heading to the Alternative Market. At the same time, the goal is to have completed the capital hikes of Ellaktor (approved yesterday by the Hellenic Capital Market Commission), Ideal and Premia, the processes of which have already begun.
In the fall, another listing of an industrial company (Recycling sector) on the Main Market is due, along with the listing of an IT company on the Alternative Market, as Capital Maritime & Trading (owned by shipowner Vangelis Marinakis) will issue a bond of over 100 million euros, following in the steps made by Costamare. There may still be a long way to go for the ATHEX to operate effectively in providing capital to companies, but these developments indicate a gradual resurgence of interest in the Greek stock market, which in the first half of the year hit a seven year high in terms of funds being generated from rights issues and bond issuances.
Eurochartiki SA will be the first industrial company to be listed on the ATHEX. after many years, breaking a negative 15-year trend.
It belongs to the families of N. Christopoulos and I. Trakakis and will be listed on the ATHEX. through capital increase and public rights issue. The company is active in the field of personal and household paper products with the “Endless” dominant brand, having established a significant presence in the Greek market, while it is also active in detergents. In 2019, the company completed an investment program of 17 million euros with production facilities, mechanical equipment and new production lines, as well as warehouses of 15,000 sq.m. In 2020 the company had a turnover of about 60 million euros compared to 52.7 million euros in 2019 despite the reduced demand from the HO.RE.CA category. which is an important part of its distribution The company has also taken steps to expand abroad, distributing products in countries such as Cyprus, Bulgaria, Albania, Romania, Poland, Turkey and Israel, but exports do not exceed 10% of turnover. The company employs about 250 people.
Real Consulting: First listing on Alternative Market after ten years
Within the next two - three weeks, the listing of Real Consulting in the Alternative Market of ATHEX is expected to be completed.
The company is majority owned by Nikos Vardinoyannis and is one of the fastest growing IT companies. The process will be carried out with a private investment of 5 million euros that will be covered by its main shareholders, while the goal is for the company to gradually grow and move to the ATHEX’s Main Market Real Consulting is one of the leading companies providing consulting services and implementation of integrated IT projects in Greece and is a strategic partner of SAP. It is also a longtime Microsoft Affiliate, a member of the Microsoft President’s Club with extensive experience in installing and configuring Microsoft Dynamics NAV and Microsoft Dynamics CRM. In 2020 pandemic, Real Consulting increased its turnover by 9% to 19.68 million euros compared to 18 million euros in 2019.