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Greece’s Metlen Energy & Metals is set to list in London this summer.
Mining and Energy Company said Friday that it aims to shift its main list from Athens to London in August.
The move is the latest vote of trust in the UK stock market this week after Financial Times reported that private equity-backed software group Visma has chosen London to Amsterdam for an initial public offering for the 19 billion euro company.
As part of the move, Metlen will not raise fresh capital and will maintain a secondary list in Athens, which has a market capitalization of over 600 million euros. Our shares have grown almost 60% over the past year.
The UK is struggling with a shortage of IPOs and exits from businesses that have moved their major lists to other exchanges. This month, Metal Investment Group Cobalt Holdings withdrew plans for the London list.
Metlen CEO Evangelos Mytilineos told FT earlier this year that London is a better listing venue than New York as businesses risk “losing” in busy US markets.
Metlen produces electricity from assets such as gas-fired power plants, solar and wind farms, and also has an aluminum, alumina and bauxite business.
It plans to expand to gallium production. Gallium is an important mineral that is essential to the technology industry, but its supply is controlled by China. The Industrial Group says it aims to “fully replace current gallium imports with Europe” from the new production line.
Metlen, which reported annual sales of 5.7 billion euros in 2024, said it aims to be made public on the London Stock Exchange on August 4th.
Global supply chains have been shaken by the Trump administration’s various import duties and an escalating US-Island trade war. However, Metren said on Friday that the direct impact of tariffs is “negligible for the group.”
