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Greek investment opportunities presented to US investors in New York

posted onJune 26, 2018

The Athens Stock Exchange and the American-Hellenic Chamber of Commerce, in cooperation with Enterprise Greece organised the 7th Greek Investment Forum in New York, held on the 19th and 20th of June 2018 in the framework of the Greek Investment Roadshow in the USA. 

The Greek Investment Forum is an initiative of the above agencies, which have joined forces since 2012 with the goal of promoting in the best possible way Greece’s business and investment opportunities in the USA and the prospects of a wider Greek-American partnership in economy and trade.

The delegation included the Alternate Minister of Economy and Development Mr. Alexis Charitsis and the USA Ambassador to Greece, Mr. Geoffrey Pyatt. 

This year, in addition to the 7th Greek Investment Forum in New York, the Greek Investment Roadshow was combined with visits to Washington and Chicago on June 20-22, for meetings with business and state agencies and lobbies.

The listed companies that took part, in alphabetical order, represented at management level, are: 

1. Admie Holding 2. Aegean Airlines 3. Alpha Bank 4. Athens Exchange Group 5. Autohellas 6. Eurobank 7. Fourlis 8. Gek – Terna Energy 9. Grivalia Properties REIC 10. Hellenic Petroleum 11. Hellenic Telecom (OTE) 12. Iktinos Hellas 13. MLS 14. Motor Oil 15. Mytilineos 16. National Bank of Greece 17. OPAP 18. Piraeus Bank 19. Piraeus Port Authority 20. Public Power Corporation (DEI) 21. Sarantis Group 22. Thrace Group 23. TITAN 

Management representatives and investment relations managers from these companies had B2B meetings with fund managers and investment firms. There was a total participation of 60 investment funds, 90 portfolio managers and 400 one-on-one meetings were held with the listed companies.

A briefing session was held in the framework of the 7th Greek Investment Forum, titled: “Greece: Back on the Path to Growth”. The briefing was opened with welcoming addresses by the CEO of the Athens Exchange Group, Sokrates Lazaridis, the President of the American-Hellenic Chamber of Commerce, Simos Anastasopoulos and the Chairman of the Hellenic Capital Market Commission, Professor Charalampos Gotsis. 

“From the previous investment forum until today, total liquidity has improved by some 20% with a big participation from the non banking sector that saw an increase of 40%. Our mid cap companiessaw a rise in terms of prices and trading activity. Net profits of listed companies rose to the order of 33% while the participation of foreign institutional investors remained high at 65%" Lazaridis noted.

Athens Stock Exchange CEO
 CEO of the Athens Exchange Group, Sokrates Lazaridis

"The corporate bond market was enhanced with new issues. Finally, significant improvements were made to the laws for companies, with the incorporation of provisions that reinforce corporate governance and offer the possibility for the issue of new securities and fund raising instruments” he added.

“The 7th Annual Greek Investment Forum offered us the opportunity to convey to the American investors the positive developments in the Greek economy and the investment opportunities which the country presents” Hantzinikolaou stated  at the closing of the briefing session.

The Forum was sponsored by a host of Greek and foreign market actors of international repute, such as investment banks, investment companies, auditing firms and law firms. Specifically, Gold Sponsors were: Alpha Finance, Axia Ventures, Citi, Eurobank Equities/Auerbach Grayson, Euroxx Securities, Investment Βank of Greece, LXM, Marco Polo Securities, Morgan Stanley, ΝΒG Securities abd Piraeus Securities, and Silver Sponsors were Deloitte and law firm Milbank,Tweed, Hadley & McCloy LLP. 

The pursuit of money has no borders. Last month, the Stock Exchanges of Bucharest, Warsaw and Prague organised the "CEE Investor Days" conference also in New York. During the two days of the event held on the 23rd and 24th of May, 34 companies from Poland, Czech Republic and Romania met with 84 institutional investors representing 59 largest US investment houses. The event highlighted the progress made by the capital markets and showcased top companies listed on the exchanges.

Who will be next presenting investment opportunities to US investors? The Big Apple with its Big Board remains the ultimate destination. For foreign companies choosing to execute a cross-border listing, the US is the favoured market. From 2012 through 2016, the US was home to almost twice as many foreign IPOs as its closest competitor, the United Kingdom according to an EY analysis. 

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