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His Eleftheria Kourtali
Although the participation was lower than last year due to … economic conditions, its valuation 8th Greek Investment Forum held annually between the Athens Stock Exchange and the Hellenic-American Chamber of Commerce in New York from June 11 to 12, was positive, the funds anticipating the political change that occurred in Greece during the July 7 elections, things are better in the economy thanks to the pro-investment program and the New Democracy market.
Rally "Weapon" at ASE and obligations
The prospect of a political page change in the country and a new stable environment, more conducive to business and investment, the recovery of the market that intensifies after the results of the European elections and the Hope to revive major privatizations (Ellinikon) and investments facing obstacles, have nurtured the interest of the fund managers involved. As Capital.gr points out,the interest in Greek listed companies was intense and contributed to the rally of the Athens Stock Exchange and the bonds who placed the Greek badets in the radar of foreign portfolios. "The strengthening of bond prices particularly favors the Greek systemic banks which have significant positions in Greek government securities, thus strengthening their capital.
No worries about the adequacy of banks' own funds
Investors who participated in individual meetings with senior banking executives, appeared more positive for Greek banks and, according to information, there was no question about their capital adequacy, as was the case last year, when the first quarter results were largely liquidated. In addition, the stress tests are still far away, which raised the issue of funds from the horizon of the funds.
In general, the funds seemed convinced that the growth of the economy in the coming period in which he will help change the government, will lead to rising real estate prices This will help banks accelerate red loan sales, while real estate portfolios will become more attractive. In fact, the funds have been detailed in the latest real estate data of the Bank of Greece.
The interest of foreign investors is focused on the progress made around them. banking plans to reduce NPEss and also to know if there is request for new loans and where it comes from. As bank sources explain, boosting economic growth usually leads first to an increase in business loans, which has already begun.
More generally, besides the banks, the Greek real estate market, its prospects the infrastructure sector – construction, but also for energy – Renewable energies have remained one of the priorities of investors on the other side of the Atlantic.
Funds
In the X.A roadshow. Blackstone, Lazard AM, Liberty, Goldman Sachs, Oaktree Capital Management, as well as hedge funds, including Gramercy Capital, Craftsman Management, Capital Build, TimesSquare Capital Management, Vanshap Capital, Stone Forest, Bienville Capital, HPF Capital Markets, Auerbach Grayson, who has also held meetings with leaders and executives of Greek listed companies.
It should be noted that in the HELEX roadshow there were finally 18 listed (out of 25 originally announced), namely Aegean Airlines, Alpha Bank, Autohellas, EXAE, Eurobank, Fourlis, GEKERNA, TERNA Energy, PPC, Hellenic Petroleum, Greece, Motor Oil, Mytileneos, Profil and Sarantis.
The double conference of Wood in Athens
The fact that at about the same time and more precisely June 12 and 14 is held in Athens and at the hotel Divani Apollon Palace & Thalbado Double Wood Conference (EME Financials and Greek Retreat) which for the first time becomes a roadshow instead of two separate, conducted according to information in the lower participation of many US funds in the HELEX roadshow in New York, who traveled to Greece. It should be noted that at the Wood conference, 40 investors will meet with 35 companies from Greece and emerging markets.
With regard to the first part of the conference, the roadshow of the bank, the four current Greek systemic banks are Sberbank, Garanti, NLB, Yapi Kredi, Santander Bank Polska, PKO BP, Moneta, mBank, Pekao and others.
In the second part of the conference, the Greek retreat to be held on Friday, will include motor oils, Hellenic Petroleum, OPAP, Mytilene, PPA, Titan, Aegean, Terna Energy, Fourlis, Sarantis and OTE.
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