Sky News has learnt that Mytilineos S.A. (ATSE:MYTIL) is working with Citi and Morgan Stanley on a London Stock Exchange (LSE) flotation that would be expected to take place later this year. City sources said on April 12, 2024 that the company, which has a market capitalisation in Athens of more than ?5 billion (£4.3 billion), was considering relocating its primary listing in London, which could lead to it being eligible for inclusion in FTSE indices. Mytilineos, which was founded in 1990 and has been listed on Athens' stock exchange for three decades.

It intends to retain a listing in Greece even after it floats in London, according to one insider. In the UK, it has been present for more than ten years constructing renewable energy, grid and storage projects. If Mytilineos proceeds with the UK float, it would deliver a welcome boost to the LSE at a time when searching questions are being posed about its future as a destination for high-growth and international companies.

Mytilineos declined to comment.