The offering would represent one of Europe's first major public listings since recent global market volatility tied to geopolitical developments, including the tariff policies introduced by former US President Donald Trump.
The IPO structure is expected to include both newly issued and existing shares. Qualco Group plans to raise EUR 57 million by issuing new stock, while current shareholders are likely to sell additional shares worth up to EUR 41 million. The indicative price range for the offering has been set between EUR 5.04 and EUR 5.46 per share.
Although details remain subject to change, the move marks a significant development for the Athens stock market and may signal renewed investor interest in Greek capital markets.
The IPO comes at a time when European public listings have remained subdued. Activity has slowed significantly in the aftermath of global trade tensions, particularly following tariff policy shifts by the US. Despite this, the Athens Stock Exchange has shown strong year-to-date performance. The benchmark index has rebounded from earlier declines and is currently up approximately 17% since the beginning of the year.
A successful listing by Qualco could potentially pave the way for other Greek companies considering public market entry, highlighting increased confidence in the local economy and equity markets.
Qualco Group operates primarily in the credit management sector, offering technology and analytics-driven solutions across the entire credit lifecycle. The company serves both banking and non-banking institutions and has an international client base spanning over 30 countries. Key clients include financial institutions such as BNP Paribas and Banco Santander, alongside investment and energy sector clients like Bain Capital and British Gas.
The company gained additional investor backing in 2018 when Pacific Investment Management (PIMCO) acquired a stake in the business.If completed, the Qualco IPO will stand out as a rare listing in the current European IPO landscape. It could provide a benchmark for future fintech offerings in Greece and across the region, while also reinforcing Athens’ position as a viable hub for technology-driven financial services firms seeking capital.
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