The UK’s Financial Conduct Authority and the LSE have both approved the listing, paving the way for Metlen to debut on the exchange’s Main Market. The transfer of shares began on Tuesday, and the newly issued stock will be credited to shareholders' accounts this Friday.
The company’s Chairman and CEO, Evangelos Mytilineos, addressed shareholders through a recorded message, thanking them for the strong show of support and participation in the share exchange offer. He described the listing not simply as a new chapter, but as the next phase in what he called an “exciting shared journey.”
During the offer period, which ended on July 25, Metlen received commitments for over 129 million shares, accounting for just over 90% of its total share capital and voting rights. This figure includes nearly 31 million shares held directly by Mytilineos and entities under his control—Frezia Ltd, Kilteo Ltd, and Melvet Investments Ltd. Following this successful result, regulatory approval was granted for the admission of Metlen Plc—the newly incorporated UK entity—to the LSE’s Main Market.
The transition will be completed this Friday, August 1, when the new shares are issued and distributed. Trading of Metlen shares will begin on Monday, August 4, on both the London and Athens stock exchanges. Mytilineos emphasized that the London listing will significantly raise the company’s global profile, improve liquidity, and allow inclusion in major FTSE indices, broadening access to international investors. At the same time, he reaffirmed Metlen’s commitment to maintaining its dual listing, preserving its Greek roots while expanding globally.
For the roughly 14 million Metlen A.E. shares not tendered in the offer, holders will have two options: they may either exchange them for an equal number of Metlen Plc shares or receive cash compensation of €39.62 per share. Metlen Plc plans to exercise its squeeze-out rights on August 4, formally initiating the process through a filing with the Hellenic Capital Market Commission. Shareholders who did not participate in the offer may, starting July 30, exercise their right to exit voluntarily.
According to Metlen’s timeline, shares of Metlen A.E. will be suspended from trading on the Athens Stock Exchange on August 22. The squeeze-out process is expected to conclude by September 5 or 8, with the final delisting of Metlen A.E. shares scheduled for either September 15 or 16.
