Wednesday, April 4, 2012

Greek "Double Listing": Seoul-Athens

An MOU for cooperation between the Korea Exchange (KRX) and the Athens Exchange (ATHEX) to be signed in the beginning of May.

KRX and ATHEX plan to select outstanding companies out of 800-some Greek non-listed shipping companies and get them listed on both KRX and ATHEX, at once.

KRX revealed that it had visited ATHEX early March and agreed on the plan, saying "After signing MOU, there will be the first listing in July."

Although Greece is undergoing debt crisis and its economy is not so good, it is one of the largest shipowning countries.

An official from KRX said, "The 800-some shipowners are reasonable to be listed on the Korean market due to their healthy financial conditions. Also, earnings would be reported based on IFRS."

Market player expect that if global companies listed on KRX get premium, Korean companies in the same industry would grow together.

Published : April 4, 2012

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