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Metlen Energy & Metals PLC shares rose on Monday as it started trading on the London Main Market, with a market capitalisation of €6.08 billion. Athens-based Metlen has moved its primary listing to London, while retaining Athens as a secondary listing. The reference price for its 129.0 million ordinary shares in issue was €47.16 per share, which was the closing price of Metlen SA shares in Athens on Friday. Shares in Metlen were up 2.2% to €48.20 in London on Monday morning. Metlen produces aluminium from its plant in Viotia, Greece, and produces electricity from assets including gas-fired power plants and solar and wind farms. In the UK, it is part of a consortium building an electricity cable between Scotland and north-east England. As part of its listing, Metlen Energy & Metals PLC has replaced Metlen Energy & Metals SA as the group’s ultimate parent company, and the company conducted a share exchange programme to effect that change. Last week, the firm reported the success of a tender exchange offer for all shares of Metlen SA which it did not already hold, with around 90% of Metlen SA shares tendered when the acceptance period ended on Friday. Metlen said it plans to use its right of squeeze-out, which requires holders of the remaining 14.1 million Metlen SA shares to exchange their shares either for new Metlen shares or €39.62 in cash per share. The company expects to join the FTSE UK index series in September, while its valuation makes it a possible contender for the FTSE 100 in the first quarterly review following the IPO. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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