Athens Stock Exchange Event at Heraklion, Crete - 31 October 2024

 
   
   
 
Press Release
 
1 November 2024
 
Athens Stock Exchange Event at Heraklion, Crete - 31 October 2024

 

The event organized by the Athens Stock Exchange in Heraklion, Crete, on Thursday, October 31, concluded with great success. The event, titled "Funding Solutions of the Athens Stock Exchange and Its Role in Strengthening the Growth of Greek Enterprises," brought together numerous representatives from local businesses, industry associations, and academic institutions. It was held under the auspices of the Region of Crete and the Heraklion Chamber of Commerce, with the support of the Exporters Association of Crete. The event sponsors were Eurobank, National Bank of Greece, and Optima Bank.


The event commenced with a welcome speech by Mr. Michalis Vamvoukas, Deputy Regional Governor of Crete for Entrepreneurship


Following this, Mr. Yianos Kontopoulos, CEO of the Athens Exchange Group, presented the financial instruments available through the Stock Exchange to support the growth of Greek businesses. He emphasized: "Undoubtedly, the primary benefit for a company listing on the Stock Exchange is access to capital. This access enables the implementation of growth plans and enhances its competitiveness. However, beyond capital access and increased visibility, perhaps the greatest advantage is the transition to a corporate governance model based on transparency." Discussing the prospects for the Athens Stock Exchange following its upcoming market upgrade, he added: "The new investment opportunities that will emerge from our market's upgrade will strengthen the Athens Stock Exchange by increasing liquidity and attracting new capital inflows. Furthermore, the upgrade process, initiated in 2024 by two rating agencies, will further reinforce our market by drawing new investors and facilitating additional company listings."


Subsequently, Mr. Eftychios Vassilakis, Chairman of AEGEAN and CEO of AUTOHELLAS, and Mr. Dionysis Chintzidis, Chairman and CEO of Performance Technologies, shared their experiences regarding their companies' stock market listings and subsequent journeys.


Mr. Vassilakis remarked: "The Stock Exchange is undoubtedly a mechanism that can propel a company’s growth strategy, regardless of its size, and fuel its expansion plans. When AUTOHELLAS went public 25 years ago, it was one of the few tourism-related companies listed and certainly the only one from Crete. At the time, it had a turnover of €57 million and a fleet of 5,000 vehicles. Today, its turnover has reached €1 billion, with a fleet of 62,000 vehicles operating in eight countries. Of course, this success is primarily due to the hard work of Theodoros and Emmanouela Vassilakis, who built and developed the company, as well as the dedication of many other individuals who have continued its successful trajectory. However, listing on the Stock Exchange enabled us to raise additional capital, which we initially invested in establishing AEGEAN. Later, when AEGEAN also went public, we gained even greater access to capital, particularly through bonds, strengthening the group’s companies while also providing liquidity benefits for other shareholders."


Mr. Chintzidis added: "We were delighted to participate in the Athens Stock Exchange event in Crete, as it provided us with a unique opportunity to share our experience and showcase Performance Technologies' transition from the Alternative Market to the Main Market. Additionally, it was extremely valuable for us to engage with the people of Crete and connect with the local business community. These interactions inspire us and reinforce our commitment to continuous development and future growth."