The first entry in a new era for the Greek media sector was made today by Alter Ego Media with its Athens Stock Exchange debut. The first day of trading also set the tone for the future with +8.75% achieved when trading began.
See everything that happened today on the Athens Stock Exchange
It is no coincidence that the CEO of the Athens Exchange Group, Yiannos Kontopoulos, recalled that “In 2000, the mass media was a dynamic sector with 16 listed companies. Today is the first flotation in 20 years”.
The outlook for Alter Ego Media is particularly positive, in a sector that has had to make the largest readjustment since it peaked just before the onset of the financial crisis
Capitalization and oversubscription by a factor of 12
Alter Ego Media started trading with a market capitalization of 227.9 million euros and closed its very first day with 20 million more, making it crystal clear why the company was offered capital far in excess of half a billion euros at an impressive 676.81 million euros. Meaning its offering was oversubscribed almost 12 times over, which is something only the National Bank of Greece has achieved in recent years with its placements.
The analysts from
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