Corporate finance

"Stagnation" is the term used by several representatives of investment funds in Greece to describe the trajectory of the Greek startup ecosystem at the end of the first quarter of this year compared to the corresponding period last year.

The placements of Greek listed companies have proven a goldmine for investors, who enjoy profits of over 30% in a very short period of time.

The number of investors in Borsa Istanbul has picked up again in the past two weeks with new initial public offerings on the stock exchange.

Some investors left the stock exchange in the past months due to the combination of several factors. The interest rates on saving accounts rose, while the performance of the shares offered via public offerings was disappointing. 

Startups may have now gone past the worst, say several international investors, predicting that 2024 will be a year of stability, in contrast to 2023, that showed shrinking investment and mass layoffs by technology companies.

The initial public offering of a 30% stake in Athens International Airport, Greece's largest gateway for tourists, attracted strong demand, the airport said on Friday, marking the first successful launch of a major IPO in Europe this year.

The initial public offering addressed to the Greek market for the 30% stake in Athens International Airport, controlled by state asset utilization fund TAIPED, starts on Thursday and will be completed on February 1

Greece's investment grade recovery, expected to reduce borrowing costs for businesses while opening the door to a larger investor audience, combined with the start of the ECB's rate-cutting cycle, is accelerating activity for listed companies, supporting new issues of corporate bonds and fresh listings on the Athens Stock Exchange.

Türkiye ranked 10th in the world in terms of public offerings (IPO) launched, according to a recent report by Ernst & Young (EY).

A total of 52 IPOs were launched, corresponding to 4 percent of global public offerings, EY's Global IPO Trends 2023 report said.

Vestbee, one of the leading European platforms for startups, VC funds, accelerators, and corporates, has just published VC Funding In CEE Report - 2Q 2023. According to this quarterly overview, VC trends in the CEE region have been closely mirroring the global downturn as the total value of disclosed funding rounds settled at €560M.

Not a single investment project in the context of business mergers and acquisitions has been submitted to the Recovery and Resilience Fund (RRF) to date for financing, despite the fact that Greece is a champion in absorbing the resources of the RRF's loan arm.