Metlen considers Athens Stock Exchange listing for METKA Group

Metlen Energy & Metals is considering a potential initial public offering (IPO) for its infrastructure subsidiary, METKA Group, on the Athens Stock Exchange (Euronext Athens).

Following a corporate transformation that included the carve-out of concessions and public-private partnership (PPP) activities into M Concessions, Metlen is consolidating its infrastructure operations—including construction, concessions, PPPs, and facility management—into METKA. This reorganization aims to enhance operational flexibility and establish METKA as a leading infrastructure platform for projects in Greece and Southeast Europe, covering sectors such as real estate, logistics, water, and environmental projects.

If the listing proceeds, Metlen expects to retain majority control of METKA. The move is intended to provide METKA with additional capital to support its expansion and improve its financial autonomy. Citi has expressed a positive outlook on the potential move, maintaining a ‘Buy’ recommendation for Metlen and suggesting the listing could unlock value by providing the infrastructure arm with independent access to capital markets.