In a move that underscores growing investor interest in the blue economy, UPyachting Management Plc is advancing plans to transform into a holding company and pursue a dual listing on India’s stock exchange, as CEO Theodoros Chouliaras highlighted the sector’s strong growth potential and the company’s strategy to expand its investment footprint.
Speaking at a recent Cyprus Stock Exchange (CSE) event attended by companies listed on both the Main and Emerging Markets, Chouliaras explained that UPyachting has developed a platform similar to Booking, allowing users to search for, find, and book yachts for their holidays. Through this platform, the company currently manages 9,500 yachts across 42 countries.
“Yachts are a striking component of what we call the blue economy,” he said, noting that yachting returns -often tax-free- can reach 8% and in some cases exceed it.
Emphasizing the growing importance of the sector, in which Greece is now a global leader, Chouliaras revealed that an Extraordinary General Meeting will soon be held to propose transforming UPyachting Management Plc into a holding company under the name UP Ventures Plc. The new structure will focus on raising capital and investing in already successful businesses within the sector.
According to Chouliaras, UP Ventures Plc will build a diversified investment portfolio in the blue economy and related services. The allocation will include:
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40% in yachting companies, including yacht management and charter firms, manufacturers, distributors, and maintenance services
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25% in marinas and infrastructure, including marina investments, strategic locations, shipyards, and storage facilities
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15% in digital platforms, such as booking systems, owner and passenger apps, and IoT and telemetry technologies
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20% in green technology, including hybrid and electric propulsion systems, renewable energy solutions, and waste management systems
To support these investments, the company aims to raise €5 million as an initial capital target, forming the foundation of a diversified blue economy portfolio designed to balance growth and stability.
The capital allocation will be structured as follows:
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40% (€2M) in venture investments targeting early-stage maritime tech companies with high growth potential
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20% (€1M) in strategic acquisitions or significant minority stakes in profitable, established companies
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15% (€750K) in marina technologies and yachting-as-a-service platforms
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10% (€500K) in AI maritime platforms
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10% (€500K) in working capital
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5% (€250K) as a liquidity reserve
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Two investment options
To raise the €5 million, UP Ventures Plc will offer two investment routes. The first is a blue bond, which may also be listed on the CSE, offering a fixed return of 6% with relatively low risk—ideal for investors seeking stability and conservative capital growth.
The second option involves the issuance of holding company shares through a capital increase, offered at a 30% discount to the current market price. This effectively allows investors to acquire shares below market value, providing immediate upside potential.
Listing on the Indian Stock Exchange
Chouliaras also revealed that, following discussions with the leadership of the NSE International Exchange (NSE IX) in India’s GIFT City, the company has received approval to formally submit its listing application.
UPyachting Management Plc is expected to proceed with a dual listing on the Indian exchange, without parallel trading. This means that Indian investors will be able to buy and sell the company’s shares from India at the price set on the Cyprus Stock Exchange.
The listing is anticipated to take place around mid-July.
UPyachting Management Plc has been listed on the Emerging Market of the Cyprus Stock Exchange since late 2022. The company specializes in equity investments within the yachting sector and the broader blue economy through acquisitions, mergers, and private placements.
By raising capital through the stock exchange and a pool of institutional investors, the company invites both shareholders and external investors to participate in investment opportunities, ranging from mature business ventures to startups.
This model allows investors to avoid being locked into a specific target investment. Instead, they hold publicly traded shares with daily valuation and full liquidity, offering flexibility without time restrictions.
