Greeks from Romania soon on the Athens Stock Exchange

The first agreements between the banks authorised to handle issues of securities and the Greek companies with investments in the Balkans, which will be listed in a special section of the Athens Stock Exchange, are expected this fall.

The preparations for launching the Athens Stock Exchange section where shares of Greek companies operating in the Balkans will be traded are on schedule, Mediafax reports. The launching of the new market, to be called Greek Emerging States Market (EAGAK), is scheduled for 2002.

The market will be open for trading the shares of Greek companies operating in Romania, Bulgaria, Cyprus, the Czech Republic and Macedonia.

The Greek companies operating in Romania and likely to be listed on this market are croissant maker Best Foods, Sometra (held by Mytilinaios that took over an 87% stake in 1998), which deals in lead and zinc production, and the Romanian division of M.J. Maillis, maker of secondary packaging. Greek investments in Romania amounted to $2.4bn by the end of 2000.

The Greek investors operating in Macedonia through Kyriakidis and Kapniki Michailidis could have part of their shares listed on the new market, while as far as Greek businesses in the Czech Republic are concerned, only one company dealing in defence and one dealing in constructions are to go public.