Mytilineos Holdings

A number of Athens-listed companies are planning to take part in a new wave of bond issues, aiming to make the most of the favorable climate in the market and the improvement in investor confidence in Greece.

The Greek benchmark was buoyed by bank stocks and prearranged transactions on Tuesday, and ended the session safely clear of the 900-point zone. Turnover also showed a marked improvement.

The Athens Exchange (ATHEX) general index ended at 917 points, adding 1.55 percent to Monday's 902.98 points. The large-cap FTSE 25 index expanded 1.53 percent to 2,296.31 points.

The benchmark of the Greek bourse came off last Friday's five-year highs on Monday as the market appeared to be keeping some cash aside for the upcoming 15-year Greek government bond issue. International pressure on stocks from the Chinese coronavirus played a part too, while the Greek economy's upgrade by Fitch had already been priced in last week.

The stocks of former state companies gave the main index of the Greek bourse a major push on Tuesday while the banks' index stayed put. The benchmark rebounded within range of the 900-point level, with daily turnover rising above 100 million euros.

Investor interest in the Greek state's UltraFast BroadBand (UFBB) project illustrates the swing toward infrastructure: A total of 10 investors have expressed non-binding interest in the project, including one from abroad. The latter is Oman Fiber Optic (OFO), which is based in Muscat, Oman.

Listed Mytilineos Group on Thursday reported a 42.7 percent leap in turnover in the first nine months of 2019 year-on-year, continuing the excellent performance seen in the first half over the summer.

Prime Minister Kyriakos Mitsotakis will lay the foundation stone for the first major private investment in Greece after the country's economic crisis on October 2, as implementation of Mytilineos SA's 300-million-euro investment in a new electricity production unit that will be fueled by natural gas gets under way at the Agios Nikolaos Energy Center in Viotia, central Greece.

Energy and construction group Mytilineos has announced that subsidiary METKA has been awarded the development of a solar energy project in Chile.
When completed in December 2020, the 170.65-megawatt Atacama Solar II unit is expected to provide power to more than 100,000 households. 

Private Greek industrial group Mytilineos has overtaken incumbent DEPA to become the country's biggest LNG importer this year, the first time in history that an independent company has knocked the state-owned company from the top spot, ICIS an information platform on petrochemicals and specifically on energy issues, fertilisers and other commodities said in a report.

MSCI will publish its quarterly review of its market indices on Wednesday and analysts said there could be some surprises regarding the composition of the MSCI Greece index.
Last year, MSCI had added Motor Oil.
Last March, investment firm VTB Capital had said MSCI could add Mytilineos Holdings, the energy and metals conglomerate, if its stock price rose by 19-22 percent.