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(Sharecast News) - Metlen Energy & Metals said on Wednesday that it is considering a potential stock market listing of its infrastructure business METKA Group on Euronext Athens.
The company said the possible flotation forms part of a broader reshaping of its infrastructure activities, which are being brought together under METKA as a separate, wholly owned business.
The division will include METKA ATE, M Concessions and Unison, combining Metlen's construction operations with its concessions, public-private partnership and facilities-management activities.
Metlen said a flotation could give METKA its own route to funding as it seeks to expand, while allowing the business to operate with greater financial autonomy. The parent company would nevertheless expect to retain a majority stake if an IPO goes ahead.
The reorganisation is also intended to give METKA more scope to expand across infrastructure and related sectors, including concessions, PPPs, real estate, logistics, water and environmental projects, with a focus on Greece and southeast Europe.
Metlen stressed that no final decision had been taken and that any IPO would depend on market conditions and the relevant approvals.
MTLN shares in London were down 1.7% at 48.84 by 1323 BST.
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