Investors have reacted positively to the voluntary public offer by Metlen PLC, the UK-based company established by Greek industrialist Evangelos Mytilineos, as part of a broader strategy to list the group on the London Stock Exchange.
On Thursday, the stock’s ex-dividend date, Metlen’s share price defied expectations by closing higher, signaling market confidence. A key driver behind this optimism is the company's clear commitment to maintaining its tax residence in Greece.
This decision is significant. Despite its incorporation in the UK, Metlen PLC has confirmed that its strategic and financial decision-making, its main business operations, and the functioning of its management bodies will remain in Greece. Under Greek tax law, these factors establish the company’s tax residency, meaning Metlen will continue to be taxed in Greece on its global income. This move strengthens the group’s ties to its home country and reinforces its image as a Greek-based multinational, even as it expands its international footprint.
By choosing to remain under Greek tax jurisdiction, Metlen avoids the perception of relocating abroad for tax benefits - a practice often criticized as tax inversion. Instead, the group ensures continuity, regulatory transparency, and fiscal contribution within the European Union. The parent company will continue paying taxes in Greece, underlining its commitment to the national economy and supporting long-term fiscal stability.
Importantly for Greek shareholders, the change in listing venue will not affect how their dividends are taxed. The United Kingdom does not withhold tax on dividends paid to non-resident investors, so Greek shareholders will receive their dividends in full. These payments must still be declared in Greece and will be taxed at the current withholding rate of 5 percent, a regime that will remain unchanged even after Metlen is listed in London.
