Hatzidakis: The upgrade of the Athens Stock Exchange is excellent news for Greece
Minister of National Economy and Finance Kostis Hatzidakis. ANA – MPA
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The upgrading of the Athens Stock Exchange by FTSE Russell with the aim of returning it to the category of developed markets is excellent news for Greece, the Minister of National Economy and Finance Kostis Hatzidakis pointed out in a statement, emphasising that “it is a result of the positive developments in the economy, the positive prospects that are opening up but also the specific successful moves of the government in the field of privatisations.”
He also referred to “the increase in the share capital of PPC, the listing of the shares of the airport El. Venizelos in the Athens Stock Exchange, the sale of Helleniq Energy shares. And above all – due to the size and special weight of the banks in the economy – the completion of the disinvestment of the HFSF from the systemic banks and also the developments in relation to the fifth banking pillar.”
Hatzidakis pointed out that “the Athens Stock Exchange is heading towards joining the world’s leading capital markets. And this creates conditions for additional funds coming into the country, improvement of financing conditions for listed companies, productive investments and new jobs.”
Greece will be added to the Watch List for a possible upgrade from “Advanced Emerging” to “Developed Market” status.
According to the rating agency, Greece meets the following requirements for obtaining Developed Market status:
– the twenty-two quality criteria of the FTSE markets.
– the minimum market capitalisation and number of securities requirements, based on data as of June 28, 2024, and
– has a Gross National Income (GNI) per capita rating of ‘High’.
Source: ANA – MPA
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