The records of Piraeus, the headache of Sklavenitis and the “vertigo” of Kouvrakis (of BETA Systems) – Economic Postman – 2024-03-10 02:04:06

· The success of the Piraeus placement was a foregone conclusion. The offers are many, the climate is supportive, the prospects are good.

· However, no one expected them to reach close to 11 billion euros, leading to an overcovering of the books by about 8 times!

· The price of 4 euros also made an impression.

· A level at which the stock price was also on the board.

· On Monday, Piraeus started trading at 3.98 euros, reaching up to 4.22 euros, to “collect” close to the placement price.

· It is expected to stay there for a while and at least until the shares are available to new investors.

· Then… a new journey begins, as a stock exchange source told us.

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“Sins”… Marinopoulos is being punished by Sklavenitis

· They choose to keep a low profile in Sklavenitis regarding the legal dispute with the Municipality of Chalandrio over the store in the Rematia area.

· Circles close to the management of the chain point out that the company is completely legal, and there is no problem with licensing.

· The Municipality, on the other hand, continues to press for the revocation of the operating license for reasons of protection of the public and natural environment.

· He even claims that he has been vindicated in the first instance while he awaits the final judgment of the Court of Appeal, to which the dispute has been brought.

· It should be noted that Sklavenitis inherited this particular store from the acquisition of Marinopoulos.

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Which stock landed… sharply

· ELXA landed abruptly after the 2023 results.

· Comparisons with 2022 are of course unfortunate at present, given the previous year’s outperformance.

· However, what was troubling was the Group’s management envisioned a sluggish 2024 for growth prospects.

· And this will continue until interest rates begin to decline.

· Logical, since the jump in interest rates raised the cost of financing from 41.5 to 52.7 million euros.

However, the group reduced borrowing from 955.5 to 813.35 million euros

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Investment interest in Lavrio

· A small surprise was hidden in the announcement about the sale of the port of Lavrio.

· Instead of 67%, the invitation refers to the disposal of 50% + 1 share of the Organization.

· Something we had pointed out from this very column.

· In particular, we said that in the case of Lavrio, another option is being considered, instead of the well-trodden one… which was consistently followed in Piraeus, Thessaloniki, Volos and Heraklion.

· It remains to be seen whether the change of course will not have… side effects on investment interest.

· Because previous tenders have seen strong interest from investors with a footprint.

· The momentum for Greek assets in the international market, however, is unique…

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The secret of success of Mr. Kouvrakis of BETA Systems

· “I live a dream, do not wake me up”.

· This is how the people of BETA Systems deal with the mega deal with the Nasdaq-listed American Cadence.

· The president of the North Helladic company that develops software for car manufacturers still hasn’t recovered from the impressive development.

· And of course the astronomical amount that the shareholders will receive (the price is 1.15 billion!).

· He has not yet recovered, as he tells his interlocutors, from the vertigo caused by the agreement.

Mr. Panagiotis Kouvrakis, of course, was always a low-key person and consciously avoided publicity.

· He is, as those who know him well say, a man of deeds and not of words…

In fact, when some people ask him how he managed to overcome the difficulties posed by the Greek state, he invites them to look at how to move forward with their work, instead of constantly lamenting…

· He urges them to break away from the subsidy mentality and look forward, relying on their own strengths…