The sudden limit-up of Athens Medical’s stock has taken the community by surprise, sparking speculation that is already circulating in brokerage firms (but not only there).
The stock opened at 1.78 euros and rose to 2.19 euros—a new high—and earlier reached 2.07 euros (up 17.96%), with increased trading volume.
Rumors circulating suggest interest from a foreign fund as well as an impending public tender offer. In a communication between Euro2day.gr and the company, it was stated that the rumors are unfounded and that the company will respond officially on the matter to the Hellenic Capital Market Commission.
The Rumors
Given the “tight” free float—with the Apostolopoulos side holding 50% and the German Asklepios Group holding 36%—the question is “where” this significantly increased trading volume is coming from, especially today.
It should be noted that the annual general meeting of shareholders is imminent, with investors attaching particular importance to it given recent developments.
Given the percentage of shares held by the two main shareholders, rumors suggest that management intends to announce a public proposal (to “delist” from Euronext Athens), taking into account that the company has not yet complied with the “free float” requirement. Additionally, other sources mention interest from a foreign fund (with an indirect presence in the broader insurance sector).
The current situation: After 40 years at the helm of the Iatriko Athens Group, the time has come for Giorgos Apostolopoulos to step down.
A visionary, founder, and one of the industry’s leading figures, he became honorary chairman of the board (with executive powers) in 2025. Now, the group’s management has decided to honor him, and for this reason, the compensation policy provides—as the “Chameleon” column reported— compensation equivalent to three months’ salary for each fiscal year for former chairmen of the Board of Directors who have served for more than 40 years, in the event of their retirement.
The relevant report explicitly refers to this as a token of recognition and appreciation, for their overall contribution and the lasting impact they have had on the company’s trajectory, through their exceptionally long and decisive service as chairpersons and their substantial contribution to strategic development, stability, and the enhancement of corporate value. This proposal will be put to a vote—and if approved, it will release funds for the payment of 3 (monthly payments) × 40 years of service = i.e., 120 months’ worth of payments.
According to the financial statements, the founder and majority shareholder will receive a total of approximately 22 plus million euros.
This is an interesting development; it remains to be seen what stance the Germans (Asklepios), the minority shareholders, and the listed company’s creditors will take.