Greece and Athens meet all the requirements for developing into a regional financial centre for companies from the Balkans and Eastern Europe, Euronext CEO Stéphane Boujnah said during a press conference earlier on Monday.

The head of the European stock exchange group pointed out that the Athens Stock Exchange can act as a reference point for Greek and Balkan companies, creating a stronger capital market ecosystem in the region. “Athens has the geographical and institutional position to become a pole of attraction for investments and listed companies from neighbouring countries,” he emphasised.

In the context of the presentation related to Euronext’s public offer for the acquisition of a 90% stake in HELEX, Boujnah also referred to the Greek-owned shipping companies listed on the Oslo market, which is a member of the Euronext group. As he noted, “today there are two to three shipping companies of Greek origin in the Oslo market, and after the completion of the public offer we will try to bring them to the Athens Stock Exchange.”

Regarding the HELEX takeover offer, he clarified that the offered price will not be increased, noting that “if the public offer is not successful, the takeover will not take place.” As he stated, “the Athens Stock Exchange is a monopoly and distributes 100% of its dividends, while Euronext distributes 50%, as it reinvests the rest in new development initiatives.”

Boujnah also emphasised that joining the Euronext network offers access to 42% more liquidity for listed companies, while commissions in the Greek market are currently approximately 2.5 times higher than in the rest of Europe and he pledged that they will be reduced.

“Our goal is not to maintain a monopoly market, but to open it up. We are investing in a country in which we believe and we want to support the dynamics of the Greek capital market,” he concluded.