An operation approved and carried out successfully
The transaction, announced in July 2025 and approved by the HCMC (Hellenic Capital Market Commission), was open from 6 to 17 November 2025. Settlement took place on 24 November.
At the end of the acceptance period, 42,953,405 ATHEX shares, representing approximately 74.25% of the voting rights, had been tendered to the Offer, well exceeding the minimum threshold requirement of 50% + 1 share.
The public exchange offer was a success.
In his statement, Euronext CEO Stéphane Boujnah emphasised that this transaction is part of a broader drive to build more integrated European capital markets, with the aim of strengthening the international visibility of the Greek market and supporting investment in local economies.
Uptevia’s role in the transaction
In line with its role as issuing agent and paying agent for Euronext NV within Euronext Securities Milan, Uptevia has been appointed to oversee the operational implementation of the public exchange offer.
Its teams have notably ensured:
- Creation of new Euronext NV shares issued in exchange for ATHEX shares contributed
- Application for admission of the new shares to trading on Euronext markets (Paris, Amsterdam, Brussels and Lisbon)
- Coordination of the delivery of the new shares to financial intermediaries
- Securing of securities flows and proper execution of settlement and delivery
Expertise in international securities transactions
The execution of this public exchange offer drew on Uptevia’s expertise in complex securities transactions in a multi-market, multi-jurisdiction environment. Coordination between local and international players, mastery of regulatory timelines and reliable operational processing were key factors in its success.
This type of operation illustrates the central role of issuing agents and post-trade service providers in the smooth execution of market transactions: beyond strategic decisions, success depends on the ability to secure each operational step.
Supporting issuers’ strategic operations
By supporting this transaction, Uptevia confirms its ability to handle highly technical international market transactions on behalf of issuers, market infrastructures and financial intermediaries.
Its positioning is based on operational, regulatory and multi-jurisdictional expertise that enables it to secure securities transactions, regardless of their size, complexity or geography.
