Shipping: Greek shipowners discover the Athens Stock Exchange – financial location gains in importance
More and more Greek shipowners are opening up their family businesses to the capital market. The trend is strengthening Athens as a financial hub. But shipping stocks are considered extremely volatile.
The Greek shipping industry is opening up to the capital market, with Capital Maritime Finance Corp. (CMF), part of Evangelos Marinakis' shipping empire, listing on the Euronext Athens stock exchange. The initial public offering (IPO) was oversubscribed, with 1.08 billion euros in buy orders, and raised 300 million euros. This marks a milestone for the Greek capital market, with CMF being the first large shipping company to be listed exclusively in Athens.
The listing is seen as a positive signal for the Greek economy, with the shipping industry playing a significant role, accounting for around 7-8% of Greece's GDP and 19% of the world's tonnage.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
