The purchases by the two investment funds are taking place ahead of the rebalancing of the MSCI index on 24 November, following the removal of Metlen’s share from the MSCI Standard Greece (Emerging Markets) index and its inclusion in the British MSCI Small Cap index.
At a time when the funds are increasing and decreasing their short positions in the share of Metlen, share purchases have been detected from two of the largest sovereign investment funds.
Specifically, according to information from Bankingnews, in early November the sovereign wealth fund of Singapore, GIC Private, proceeded with purchases of 880 thousand shares and holds a total of 0.53% of Metlen.
During the same period, the well-known Norwegian fund Norges Bank also purchased 273 thousand shares, holding a total position of 0.19% in Metlen.
The purchases by the two investment funds are taking place ahead of the rebalancing of the MSCI index on 24 November, after the removal of Metlen’s share from the MSCI Standard Greece (Emerging Markets) index and its inclusion in the British MSCI Small Cap index. At that time, outflows of 7 million euros are expected, along with inflows due to the inclusion in the new index.
As the chairman of Metlen, Mr. E. Mytilineos, highlighted during the third corporate restructuring, the inclusion of the share in MSCI Europe, which does not concern the country, will have a long-term impact and not one of 1-2 days.
He added that the capital circulating in the developed markets is ten times greater, and the company must be in a position to exploit this. He further estimated that transactions on the primary trading market (London) will increase in the future, as after the listing they remain fewer compared to the secondary market of Athens.
Catalysts: Gallium production - metal recovery and the acquisition in France
Beyond the new opportunities offered by the London market, the company's focus remains the production of critical metals (Gallium), along with the expansion of alumina production, as well as the recovery of metals (nickel, copper, cobalt) from industrial residues.
The second process was expected to begin during this period with a pilot production of 50 tons per year.
According to the recent report by Citigroup (target price 52 euros), the production of Gallium inserts Metlen into the value chain of critical metals and may serve as a catalyst for the revaluation of the share, while the bank also expects immediate acquisitions in this sector.
Regarding metal recovery, the American bank estimates that results will come in 2026, with the catalyst for the market being commercial expansion with the production of larger quantities (250 thousand tons).
Surprises coming - Metlen to acquire aluminum company in France with involvement in nuclear energy
The Metlen Group, according to a reliable source, is in negotiations with an aluminum company based in France to acquire it, as already revealed by BN.
In any case, Metlen has significant expertise in aluminum.
However, the French company also operates in nuclear energy, and this will be the first move of the Metlen Group into the nuclear-energy sector.
It is a major deal with vast implications.
www.bankingnews.gr
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