A DEPA (Public Gas Corporation) plan to list shares on the Athens bourse appears to be maturing, as indicated by a series of favorable developments.
DEPA has managed to deliver strong profit results amid a challenging business environment. The corporation’s robust performance was based on a number of factors, including DEPA’s successful renegotiation of incoming gas supply contracts. Improved terms offered to DEPA by suppliers have resulted in wider profit margins, which, along with prevailing gas market prices, helped DEPA deliver stonger profit figures as well as lower prices for consumers. All was achieved despite a commitment to gas release auctions, intended to bring other traders into the picture.
A series of major local and foreign-based projects included in DEPA’s strategic investment plan is also seen as a favorable development for the corporation’s bourse placement prospects.
DEPA plans to develop a 500 million-euro investment plan for projects concerning domestic expansion. EU funding reserved for strategic investments has already been assured for a significant part of this amount.
Also, from a wider perspective, the conclusion of the Greek bailout agreement’s prolonged second review, now seeming near, and the recession-struck economy’s anticipated return to normal, creates new overall potential for the local bourse. The Athens stock exchange would play an upgraded role in the capital-raising plans of enterprises offering positive business potential.