The Euronext Group, the largest multi-shareholder stock exchange in Europe, has confirmed earlier reports that it has begun discussions with the board of directors of Hellenic Exchanges – Athens Stock Exchange (ATHEX), the operator of the Greek capital market, regarding a potential offer to acquire up to 100% of ATHEX shares.
This potential offer would be structured as a share exchange, valuing ATHEX at 6.90 euros per share, resulting in a fixed exchange ratio of 21.029 common shares of ATHEX for each new Euronext share.
Based on Euronext’s share price of 145.10 euros as of June 30, 2025, the potential offer would value the entire issued and to-be-issued share capital of ATHEX at 399 million on a fully diluted basis. The submission of an offer would be subject primarily to due diligence.
A potential agreement would allow participants in the Greek financial market to join a network of over 1,800 listed companies with a combined market capitalization exceeding 6 trillion.
