Just one month after listing on the London Stock Exchange, Metlen -the Greek energy and metals company- is joining the U.K.’s FTSE 100 index, according to a preliminary report from index manager FTSE Russell.
The report, released on Tuesday, indicates Metlen is likely to replace construction firm Taylor Wimpey Plc in the index of Britain’s largest listed companies.
The final decision will be based on stock prices at the close of trading on September 2nd, with an official announcement expected on September 3rd.
Metlen, which is active in renewable energy and aluminum production, shifted its primary listing from Athens to London on August 4th.
With a market capitalization of approximately €7 billion, it is one of the first companies to benefit from new rules allowing euro-denominated stocks to be included in U.K. indices.
