Greece will launch an initial public offering (IPO) for a 30% stake in Athens International Airport on Thursday, one of the largest listings in the history of the Athens Stock Exchange.
Athens International Airport has set the price range for its IPO at 7.0 to 8.2 euros per share.
The IPO will run from January 25 to February 1 and the final pricing will be determined following the six-day book-building period. The listing on the Athens Stock Exchange is expected to take place on February 7 and the company’s free float is expected to be about 19%.
The country is selling 90 million shares, through a combined offering to Greek and foreign investors and existing shareholders.
Out of the 30% stake, 10% will go directly to the Canadians of AviAlliance and 1% to the Copelouzos Group for a premium.
After the completion of the whole process, the percentage of the Greek public will be limited to 25% (from 55% previously), the percentage of the Canadians will increase to 50% (from 40% previously), while the percentage of the Copelouzos Group will be further strengthened to 6% (from 5% previously).
