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Greek Energy Group Metlen Plans August London Listing

Primary listing to shift from Athens to London as UK IPO market seeks revival

In a sign of renewed confidence in the UK stock market, Greece’s Metlen Energy & Metals has announced plans to shift its primary listing from Athens to London in August 2025, targeting entry into the FTSE 100.

A Strategic Move to London

Metlen will transfer its main listing to the London Stock Exchange on August 4, maintaining a secondary listing in Athens. With a market capitalization of over €6 billion and a 60% share rise over the past year, the company is positioning itself among the UK’s top-tier public companies.

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IPO Market Boost

The move comes amid a slowdown in London IPO activity and the departure of several listed firms. Earlier this month, Cobalt Holdings canceled its London IPO, further highlighting the challenges. Metlen’s decision follows a similar vote of confidence from software firm Visma, which also chose London over Amsterdam for its €19bn IPO.

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No Capital Raised in the Move

Unlike traditional IPOs, Metlen will not raise new capital through this listing. The relocation is focused on increasing international investor exposure and benefiting from London’s broader market ecosystem.

Metlen’s Business and Future Plans

The group operates gas, solar, and wind energy plants, and holds interests in aluminium, alumina, and bauxite production. Metlen is also preparing to enter the gallium production market — a key mineral used in high-tech industries, currently dominated by Chinese suppliers. The company aims to fully replace European gallium imports with its new production line.

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Tariff Risks Minimal

Despite global supply chain disruptions and trade tensions — particularly from US-China trade issues — Metlen stated that the impact of tariffs on its operations would be negligible.

Conclusion

With annual sales of €5.7 billion in 2024, Metlen’s shift to London reflects strategic ambition and adds a much-needed win for the UK market. As global listing preferences evolve, London is vying to reclaim its position as a prime destination for international corporates.

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