Positive Outlook for Kekrops Stock
The Kekrops stock has been experiencing a significant increase in value in recent days, with the acquisition of a 4.65% stake by the CEO, Petros Souretis, contributing to the positive trend.
It is no coincidence that just before 2:30 pm, the stock price surged over 5.6%, reaching close to €1.5, near its two-month high. This upward movement is accompanied by impressive investor interest, with 40,000 shares worth €60,360 already traded.
The Success Story of Intracom in the Banking Sector
Recent stock changes have been the driving force behind the success of Intracom in the banking sector. Intracom transferred a total of 920,461 shares to Mr. Souretis, equivalent to 4.65% of the share capital, at a price of 1.41 euros per share. This transaction has increased Intracom’s ownership in Kekrops to 29.3% (down from 34% previously), with GEK Terna remaining the main shareholder at 37.2%.
These stock changes have propelled Intracom towards greater success in the banking industry, solidifying its position as a key player in the market.
The Challenges Faced by Kekrops Real Estate Company
Kekrops Real Estate Company, in partnership with Alpha Bank, is currently facing challenges in the market. Despite this, the company continues to struggle in its long history, dating back to the pre-war Greece of the 1920s.
In the 12-month period of 2023, the company’s turnover decreased to 13,000 euros (from 16,000 in 2022), while operating expenses remained 17 times higher at 222,000 euros.
One major issue for Kekrops is the composition of its property portfolio, with the majority of it being in a state of flux. The CEO holds a slightly smaller percentage of less than 5% in his hands, which adds to the challenges faced by the company.
Asia’s Property Dispute in Philothei-Psychiko Municipality
An ongoing property dispute in the Philothei-Psychiko municipality is preventing the administration from utilizing valuable real estate worth 41.5 million euros. Without resolving all legal and urban planning issues, any improvement in economic prospects through property exploitation becomes impossible.
Stagnation on the Stock Market
All these challenges are reflected in the stock market, as despite a 22% rally from recent lows of 1.21 euros, the uncertainty surrounding the property dispute continues to hinder any significant financial progress.
The Greek Stock Market: Trends and Predictions
According to recent reports, the Greek stock market is expected to continue losing at least 20% of its value by early 2024. The market capitalization of listed companies is currently stuck at levels below 30 million euros.
Investors are eagerly watching to see which Greek listed companies will become the next billionaires. Speculations are rife about potential candidates, with many eyeing industries such as technology, finance, and energy.
(The above information is the result of journalistic research and should not be considered as an encouragement to buy, sell, or hold any stock.)
