Good News A Podcast promo

Greece sells 30% stake in Athens airport operator, drawing strong investor interest


ATHENS, Greece — Greece completed a major privatization Friday, selling its 30% stake in the biggest airport operator in the tourism-reliant country during an initial public offering, officials said.

Shares in Athens International Airport are expected to begin trading on the Athens stock exchange starting Wednesday, the airport said in a statement.

Finance Minister Costis Hadzidakis said the listing of a new blue chip stock would provide a strong boost to Greek capital markets.

The initial public offering drew demand that exceeded the number of shares available, raising 785 million euros ($848 million) for Greece’s state HRADF privatization fund.

The share price was set at 8.20 euros, at the top end of the range envisaged by HRADF, implying a market capitalization of 2.46 billion euros for the airport.

Some 32 million tourists visited Greece in 2023, up from about 28 million a year earlier. Overall traffic at Greek airports hit a historic high of 72.6 million people last year, up 14% on the year, according to Greece’s civil aviation authority.

During Greece’s 2010-18 financial crisis, the country privatized a broad raft of state assets. The process has continued at a slower pace since, with the state recently offloading its stakes in major Greek banks and pressing ahead with harbor and highway concession deals.



Source link

About The Author

Scroll to Top