Euronext has requested an opinion from the Hellenic Capital Market Commission (HCMC) regarding the squeeze-out process.
“If we do not achieve the 67% threshold for the shares of HELEX, then we will see what we will do,” responded Euronext CEO Stéphane Boujnah to a BN question concerning the company’s request for guidance from the Hellenic Capital Market Commission on the squeeze-out procedure.
The head of Euronext made it clear that the offer price will not change (20 HELEX shares for every 1 Euronext share) and emphasized that the Greek market has a real opportunity to become a hub for the Southeastern European region, as Euronext plans to establish a technology center in Athens and to add new exchanges from neighboring countries to its network.
During a press conference, the CEO of the European exchange group stressed that the Athens Exchange can serve as a reference point for Greek and Balkan companies, creating a stronger capital markets ecosystem in the region. “Athens has both the geographic and institutional position to become a magnet for investment and listed companies from neighboring countries,” Boujnah underlined.
As part of the presentation linked to Euronext’s public offer to acquire up to 90% of HELEX, Boujnah also referred to Greek-owned shipping companies listed on the Oslo Stock Exchange, which is part of the Euronext group. He noted: “Today, there are two to three Greek-origin shipping companies listed on the Oslo market, and after the completion of the public offer, we will seek to attract them to list on the Athens Exchange as well.”
The HELEX takeover bid
Regarding the HELEX takeover bid, Boujnah clarified that the offer price will not be increased, emphasizing that: “If the public offer does not succeed, the acquisition will not proceed.” He further explained that: “The Athens Exchange is a monopoly and distributes 100% of its dividends, while Euronext distributes 50%, reinvesting the rest into new growth initiatives.”
Boujnah also highlighted that joining the Euronext network would grant listed companies access to 42% higher liquidity, while transaction fees in the Greek market are currently about 2.5 times higher than in other European markets; something Euronext is committed to reducing. “Our goal is not to maintain a monopolistic market but to open it up. We are investing in a country we believe in, and we want to support the growth potential of the Greek capital market,” he concluded.
D. P.
www.bankingnews.gr
The head of Euronext made it clear that the offer price will not change (20 HELEX shares for every 1 Euronext share) and emphasized that the Greek market has a real opportunity to become a hub for the Southeastern European region, as Euronext plans to establish a technology center in Athens and to add new exchanges from neighboring countries to its network.
During a press conference, the CEO of the European exchange group stressed that the Athens Exchange can serve as a reference point for Greek and Balkan companies, creating a stronger capital markets ecosystem in the region. “Athens has both the geographic and institutional position to become a magnet for investment and listed companies from neighboring countries,” Boujnah underlined.
As part of the presentation linked to Euronext’s public offer to acquire up to 90% of HELEX, Boujnah also referred to Greek-owned shipping companies listed on the Oslo Stock Exchange, which is part of the Euronext group. He noted: “Today, there are two to three Greek-origin shipping companies listed on the Oslo market, and after the completion of the public offer, we will seek to attract them to list on the Athens Exchange as well.”
The HELEX takeover bid
Regarding the HELEX takeover bid, Boujnah clarified that the offer price will not be increased, emphasizing that: “If the public offer does not succeed, the acquisition will not proceed.” He further explained that: “The Athens Exchange is a monopoly and distributes 100% of its dividends, while Euronext distributes 50%, reinvesting the rest into new growth initiatives.”
Boujnah also highlighted that joining the Euronext network would grant listed companies access to 42% higher liquidity, while transaction fees in the Greek market are currently about 2.5 times higher than in other European markets; something Euronext is committed to reducing. “Our goal is not to maintain a monopolistic market but to open it up. We are investing in a country we believe in, and we want to support the growth potential of the Greek capital market,” he concluded.
D. P.
www.bankingnews.gr
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