Τhe first entry in a new era for the Greek media sector was made today by Alter Ego Media with its Athens Stock Exchange debut. The first day of trading also set the tone for the future with +8.75% achieved when trading began.
It is no coincidence that the CEO of the Athens Exchange Group, Yiannos Kontopoulos, recalled that “In 2000, the mass media was a dynamic sector with 16 listed companies. Today is the first flotation in 20 years”.
The outlook for Alter Ego Media is particularly positive, in a sector that has had to make the largest readjustment since it peaked just before the onset of the financial crisis
Alter Ego Media started trading with a market capitalization of 227.9 million euros and closed its very first day with 20 million more, making it crystal clear why the company was offered capital far in excess of half a billion euros at an impressive 676.81 million euros. Meaning its offering was oversubscribed almost 12 times over, which is something only the National Bank of Greece has achieved in recent years with its placements.
The analysts from Piraeus Securities and Euroxx, who had set their target share prices at EUR 5.07 and EUR 5.25 respectively, had anticipated this response, stressing inter alia that the listing price was below the fair valuation.
The shares of Alter Ego Media have been traded on the Main Market of the Athens Exchange since 27 January 2025.
The outlook is particularly positive in a sector that has had to make the largest readjustment since it peaked just before the onset of the financial crisis. Indicatively, in 2010, the year the crisis began, the listed companies in the sector posted losses of almost 140 million euros, with borrowing reaching half a billion euros.
Six relentless years would have to go by before Alter Ego Media came along and began, gradually and methodically, to compile a diversified portfolio, invest in cutting-edge technologies and enrich its services, essentially marking the start of a new era for the entire industry.
Which is why the Chair of the Capital Market Commission, Ms. Vasiliki Lazarakou, said that “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.”
The founder and main shareholder of the Group, Mr. Vangelis Marinakis, spoke clearly about the new chapter that has begun with Alter Ego Media’s flotation on the Athens Stock Exchange. He was visibly moved when he spoke about changing the “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.”
But over and above this crucial message, a key pillar of the company’s development strategy is its transformation from a traditional media group into a Media Tech Group. That is, its specialization in content creation, distribution and management, using cutting-edge technological solutions.
To achieve this, its management team has identified five strategic axes which it will roll out to gradually achieve the objectives set by the Group’s founder and main shareholder.
Specifically, these are:
Source: tovima.com