In a major milestone for Greek media, Alter Ego Media, the country’s largest media group founded by Vangelis Marinakis, has officially made its debut on the Athens Stock Exchange.
The company’s initial public offering (IPO) exceeded expectations, with demand for shares surpassing the offering by an impressive 11.9 times. The high calibre of investors and the overwhelming interest in the IPO signals a promising future for the group as it continues to expand its presence both in media and on the stock market.
Alter Ego Media successfully raised approximately €57 million, funds which will fuel the company’s ambitious plans to transform into a leading Media Tech Group. The investment will support the company’s growth initiatives, aimed at revolutionising the ways in which audiences engage with news and entertainment.
Today, January 27, 2025, marks the first day of trading for Alter Ego Media, with the Athens Stock Exchange formally welcoming the group to its ranks. The opening session was declared by the company’s Chairman, Vangelis Marinakis, who was present at the exchange along with key figures from Alter Ego Media and the financial world.
Shortly before 10:00 a.m., Marinakis arrived at the Athens Stock Exchange, where he was greeted by the CEO of the exchange, Yiannos Kontopoulos. The atmosphere was electric, with a large crowd of investors, executives, and journalists gathered to mark the occasion.
Among those in attendance were Alter Ego Media’s CEO Ioannis Vrentzos, Chairman of the Board Spyridon Zavitsanos, Vice Chairman Evangelia Koutsaytaki, and several other key board members, including Eugenia Papathanasopoulou, Haris Pamboukis, and Georgios Dimas. Representatives from the banks involved in the IPO process were also present, including Piraeus Bank, Euroxx, Eurobank, National Bank, Alpha Bank, Optima Bank, and Attica Bank.
Investment Plan Set to Propel Alter Ego Media’s Future
The funds raised through the IPO will primarily be allocated to support Alter Ego Media’s investment strategy, which includes:
- Acquisitions and investments in third-party companies and Alter Ego Ventures S.A.
- Investments in cutting-edge technology, infrastructure, and fixed assets
- Content production and the acquisition of audiovisual content rights
- Strengthening working capital to support ongoing operations
A Successful IPO Amid Strong Investor Interest
Alter Ego Media’s IPO raised a staggering €676.8 million in bids, reflecting the strong confidence of investors in the media group’s future. The company offered 56.9 million shares, including 14.2 million new shares resulting from the public offering. Shares were priced at €4, at the upper end of the initial pricing range.
The shares are being distributed as follows: 65% (9,261,850 shares) went to private investors, while 35% (4,987,150 shares) were allocated to special investors. The underwriters, Optima Bank and Attica Bank, also acquired shares as part of the offering.
A New Chapter for Alter Ego Media
With its shares now trading under the ticker symbol “AEM”, Alter Ego Media begins its new chapter on the Athens Stock Exchange. The group’s journey is not only a milestone for its founder and executives but also a significant moment for Greece‘s media landscape, signaling its growing influence in both the national and international markets.
(Source: In.gr)