Mytilineos Group will invest €3.3 billion in renewable energy projects in Italy over the next four years, chief executive director (CED) Yannis Kalafatas said on Monday.

Speaking at a company event in Milan, Kalafatas added that the group has started the process for a parallel listing of the shares on the London Stock Exchange, with Morgan Stanley and Citi as advisers.

It is recalled that last week the company proceeded with a placement of 4.5 million shares, with the sellers being Frenzia LTD and Kilteo LTD, companies of the interests of the company's chairman and CEO, Evangelos Mytilineou. Mr. Mytilineou's stake now amounts to 21.529%.

The Greek company announced at the end of April its intention to list on the London Stock Exchange while keeping its shares traded on the Athens Capital Market and its headquarters in Greece. This is a move it is planning to make over the next 12–18 months. It should be noted that the listed company has achieved international growth with a presence in 40 countries on all five continents and a market capitalization of close to €5.5 billion.