Greece's stock market is poised for an upgrade to "developed" status, a move that could trigger significant capital inflows from the U.S. and Europe, according to METLEN CEO and Chairman Evangelos Mytilineos.
He cautionedthat such an upgrade hinges on maintaining geopolitical stability.
Speaking at the company’s annual shareholders’ meeting, Mytilineos explained that METLEN's decision to list on the London Stock Exchange and pursue inclusion in the FTSE 100 was driven by a strategic aim for greater visibility in global markets, not stock pricing concerns.
He added that these moves are expected to boost investor confidence and attract long-term institutional capital.
Mytilineos also announced that Prime Minister Kyriakos Mitsotakis will visit METLEN’s facilities in Volos on Thursday.
The site is being developed into a defense hub, which Mytilineos said signals the government’s commitment to revitalizing Greece’s defense industry.
Key highlights from the meeting include:
Headquarters Staying in Greece: Despite the London listing, METLEN will remain headquartered in Greece, and shareholders’ tax obligations will remain unchanged.
Potential Listing for METKA: The company is exploring a separate stock market listing for its subsidiary, METKA.
Gallium Plant on Track: A new investment for gallium production in Agios Nikolaos, Viotia, is proceeding on schedule.
No Share Capital Increase Planned: METLEN’s liquidity is considered strong. A capital increase may be considered only in the case of a major acquisition. A stock split is not currently under discussion.
On energy trends, Mytilineos noted a troubling pattern in the energy market: "zero or even negative electricity prices" during spring and autumn due to high renewable energy output and low demand. While METLEN benefits from this as a major energy consumer — especially for its aluminum plant — he warned of structural risks in the energy market.
He predicted rapid development in battery storage technologies, comparable to the recent rise of solar power.
He also dismissed the idea of introducing nuclear energy in Greece as unrealistic, citing seismic risks and strong public opposition.
"It’s practically a joke," he said.
The shareholders’ meeting approved a dividend of 1.50 euros per share, which will be paid starting July 2.