Evangelos Marinakis: ‘Each new summit we conquer allows us to see further still’
The founder and main shareholder of the Group, Mr Vangelis Marinakis, spoke about the new chapter that began today for Alter Ego Media, and was at the Athens Exchange this morning to ring in the start of today’s trading session to mark the company’s listing on the Main Market.
A large number of movers and shakers from the Greek business, banking and financial communities were also in attendance for Alter Ego Media’s big day, reflecting confidence not only in the Group’s sound financial underpinnings, but also in its vision and its hands-on pursuit both of its mission and its core principles of independence, freedom of expression and high-quality content.
“The success of the Public Offering is a vote of confidence in our vision”
“Today marks the start of a new chapter for Alter Ego Media, but also for the Greek media sector, which has shown itself incapable of keeping up with developments for many years now”, said Mr Marinakis, underlining that the company’s successful IPO was made possible by “our sound financial underpinnings, but also by our vision, our hands-on pursuit of our mission, and our guiding principles of independence, freedom of expression and high-quality content”.
“Our floatation by means of an Initial Public Offering represents an open and ongoing invitation to citizens to join us in our mission of safeguarding truth, accountability and the free exchange of ideas.”
The Group’s founder and main shareholder stressed that “the success of the Public Offering and the broad participation of the investing public is both a vindication of, and a vote of confidence in, our vision. Each new summit we conquer allows us to see still further. And as our horizons expand, the choices we make are more crucial still for the sector as a whole”.
Visibly moved, he stressed: “We are changing the bond of trust between the public and the mass media and, ultimately, its relationship with Greece itself. Because this is what that relationship is founded in: in journalism that is accountable to society and defends the fundamental principles of transparency, freedom, democracy and pluralism.
“As a Group, we recognise our broader responsibility to the public, to the proper functioning of democracy, and to the progress and prosperity of Greece. These are the principles we have followed so far, and will continue to follow in this new chapter that is now beginning!
“I would like to thank the management of the Capital Market Committee and of the Athens Stock Exchange for their excellent cooperation.”
Mr Marinakis was accompanied by the Group’s CEO, Ioannis Vrentzos; the Chair of the Board of Directors, Spyros Zavitsanos; the Vice-Chair of the Board of Directors, Evangelia Koutsaftaki; and the Board members Eugenia Papathanasopoulou, Charis Pampoukis, George Saliaris-Fasseas and Georgios Dimas. The event was also attended by a number of Alter Ego Media’s own executives and journalists.
At Vangelis Marinakis’ side were the directors of the newspapers To Vima, Pericles Dimitropoulos; Ta Nea, George Mandelas; and Alter Ego Media’s Digital Media (in.gr, ot.gr), Lefteris Charalampopoulos.
From Mega, the General Director of News and Information, Stamatis Malelis and the Director of Programme and Content, Konstantinos Sousoulas, were also present.
Also attending the event were Pavlos Mylonas (CEO of the National Bank of Greece) and Kostas Vassiliou (EUROBANK’s Deputy CEO and Head of Group Corporate & Investment Banking); the Chairman of Optima Bank, George Taniskidis; as well as the CEO of Capital Clean Energy Carriers, Gerasimos Kalogiratos.
Giuseppe Giano, Chair of the Board of Euroxx Securities SA, and Natassa Stamou, 2nd Vice-Chair of the Hellenic Capital Market Commission, were also in attendance.
Also present were the president of the Journalists’ Union of Athens Daily Newspapers (ESIEA), Maria Antoniadou; the president of the Association of Online Publishers (ENED), Theocharis Filippopoulos; members of the Board of the Association of TV Station Owners and representatives of the advertising sector, including the president and CEO of the strategic communication company AIA Relate, Alexia Bakoyianni.
The event was attended by His Eminence Metropolitan Seraphim of Piraeus.
The first floatation in the media sector in 20 years
The head of the Athex Group spoke about Alter Ego Media’s leading position in the media sector at today’s listing of the company on the Main Market of the Athens Stock Exchange.
“We welcome Alter Ego Media to the Athens Stock Exchange today, in the first listing of 2025”, said Mr Kontopoulos, welcoming the company’s management, executives and partners to the Athens Exchange.
“Alter Ego Media holds a leading position in the media sector, with 15 brands in its portfolio, including To Vima, Ta Nea and Oikonomiko Tachydromos“, Mr Kontopoulos noted.
“In 2000, the Media sector was dynamic with 16 listed companies. Today is the first listing in 20 years, however, with trading in Alter Ego Media beginning with a market capitalisation of €227.9 million,” he added.
Mr Kontopoulos noted the record oversubscription of the Public Offering, which at 11.9 times had not been matched for many years. He noted that total demand amounted to 169,202,486 shares at EUR 4 per share, i.e. EUR 676.81 million.
The new funds will be used for (i) acquisitions and participations in third companies and investments in Alter Ego Ventures SA, (ii) investments in technology, facilities and fixtures, (iii) content production and acquiring audiovisual content copyrights and (iv) working capital.
About the Athens Exchange
Mr Kontopoulos also referred to the development of the Athens Stock Exchange, describing 2024 as a milestone year not only in the light of the performance of the Greek market, but also because it is now on the watchlist of two investment firms.
Greece regaining its investment grade proved to be a catalyst, he added, stressing that this vote of confidence vindicated a multifaceted strategy and its coordination over the last three years.
The market’s capitalisation also exceeded 100 billion during 2024, which is a level not seen since 2009. There was also a 26% increase in turnover, which has doubled over the last two years.
Lazarakou: The listing of Alter Ego Media is a milestone for the media sector in Greece.
For her part, the Chair of the Capital Market Commission, Ms Vasiliki Lazarakou, referred to the significant oversubscription for the IPO; that Alter Ego Media’s offering was oversubscribed almost 12 times over signals confidence in the company but also in the capital market overall.
Ms Lazarakou welcomed Alter Ego Media to the Athens Exchange, describing its floatation as a milestone for the Media sector on the market, which has regained a dynamic growth trajectory.
“The listing of Alter Ego Media shows that with proper strategic planning, targeted investments and a commitment to transparency values, capital can be raised and businesses can grow and create new jobs,” she added.
Finally, having thanked Mr Marinakis and the employees and executives of Alter Ego Media, the Athens Stock Exchange and the Capital Market Commission who worked on the listing, she noted that there is “every reason to believe” that there will be more listings on the Greek market.
The premiere on the trading floor
Trading in Alter Ego Media’s shares started today, Monday 27 January 2025, on the Main Market of the Athens Exchange, with an opening price of 4 euros per share.
The Public Offering of “AEM”—the Exchange’s code for the share—was successfully completed with broad investor participation.
The total valid demand at the offer price of EUR 4 per share amounted to 169,202,486 shares (i.e. EUR 676,809,944), nearly 12 times more than the 14,249,000 new shares which were made available through the Public Offering.
Alter Ego Media has raised €56,996,000, which will be used to finance its investment programme.
Alter Ego media’s investment plans
The funds raised by Alter Ego Media will be used to finance the Company’s investment program
Alter Ego Media’s investment program includes:
(i) acquisitions and participations in third companies and investments in Alter Ego Ventures SA, (ii) investments in technology, facilities and fixtures, (iii) production of content and acquisition of audiovisual content copyrights and (iv) working capital.