Greek energy tycoon hails London as premier financial hub in Europe

A Greek energy tycoon hailed London as the premier financial hub in Europe as he laid out plans to list his company’s shares on the UK stock market.

In a vote of confidence in the City and Brexit Britain, Evangelos Mytilineos, chief executive of industrial conglomerate Mytilineos, threw his weight behind the capital’s long-term prospects.

When asked why he was considering a multi-billion pound listing in the UK, he said: ‘We think one of the main reasons we may prefer the London Stock Exchange, which is not a final decision, is because we think the LSE has seen the worst.

‘We see the LSE going up in the next few years. We strongly believe that London will still remain the main financial hub in Europe for years to come.’

The comments, on BBC Radio 4, were a welcome shot in the arm for the stock market as it faces an exodus of firms.

Construction company CRH, plumbing group Ferguson and travel agent Tui have all shifted their listings from the UK.

And Paddy Power owner Flutter will ask shareholders to vote next week whether to move its primary listing to the US.

Mytilineos, 69, noted his company’s close connection with the UK, having built solar farms as well as infrastructure for the National Grid. The firm, which is valued at nearly £4.5billion, plans to make its debut on the London stock market in the next 12 to 18 months, Mytilineos said. 

It will also keep its listing in Athens, where its shares have traded for three decades.