Athens Exchange Group: Greek capital market raised new capital worth 52 billion euros in the period 2012-2016

The Greek capital market raised new capital worth 52 billion euros amid an economic crisis in the period 2012-2016, confirming that despite adverse conditions Greek-listed enterprises were able to drain liquidity from the market, Socratie Lazaridis, chief executive of Athens Exchange Group said on Friday.

Addressing the 1st Thessalokini Summit, Lazaridis noted that “although everyone is interested for market indexes, we must not forget that the most important thing for a capital market is to drain capital from the primary market and to offer them to enterprises”.

Referring to the capitalization of 10 stock exchanges in Southeastern Europe (Greece, Romania, Croatia, Slovenia, Bosnia-Herzegovina, Serbia, Bulgaria, Montenegro, Cyprus and FYROM), Lazaridis said it totaled 147.39 billion euros, or 1.73 pct of European markets’ capitalization, and stressed that regional markets were significantly trailing the rest of Europe in capitalization as percentage of GDP, which did not surpass 27.9 pct compared with 71.9 pct for the rest of Europe.

Ivan Tekev, chief executive of the Bulgarian Stock Exchange, addressing the summit, said he expected the Athens Stock Exchange to link soon with a platform recently formed by seven stock markets in Southeastern Europe. “This platform does not only links stock markets, but dealers as well, allowing them to communicate between them, to send and execute orders. This platform offers the possibility for a free flow of capital from one market to the other. In short, a euro can be invested abroad as easily as in any investors’ country,” Tekev said.