The FINANCIAL — Euronext Brussels on December 21 celebrated the first trading of the shares of Cenergy Holdings, a Belgian public limited liability company active in the fields of steel pipes and cables production.
Cenergy Holdings SA is born from the cross-border merger by absorption of the Greek listed companies Corinth Pipeworks and Hellenic Cables. Cenergy Holdings is listed on both Euronext Brussels (Compartment C) and the Athens Stock Exchange.
With an initial reference price set at € 0.61 per share, Cenergy Holdings reaches a total market capitalisation of € 116 million.
This cross-border merger is designed to enable Corinth Pipeworks and Hellenic Cables to group their financial leverage and business outreach. Corinth Pipeworks manufactures steel pipes and hollow sections for the oil and gas and construction sectors. Hellenic Cables manufactures power, telecommunication and submarine cables, as well as enamelled wires and compounds. As a listed company, Cenergy Holdings will gain access to the international financial markets to help enhance the competitiveness of its underlying companies and confirm their development and investment prospects, according to Euronext.
Stratos Thomadakis, CFO and Member of the Board of Directors of Cenergy Holdings, declared: “Today’s listing of Cenergy Holdings’ shares on Euronext Brussels represents the culmination of the efforts to combine the strengths of Corinth Pipeworks and Hellenic Cables, in order to take advantage of the achievements, financial leverage and business outreach. With enhanced access to international financial markets, Cenergy Holdings is well positioned to further improve the competitiveness of its offering and realise its growth potential. We look forward to progressing our future plans and strategy aimed at achieving sustainable growth and creating value for our shareholders.”
To celebrate this first trading day, Stratos Thomadakis, CFO and Member of the Board of Directors of Cenergy Holdings, rang the Euronext bell to open the markets.