AKTOR’s share capital increase met its €650 million target within roughly half an hour of the order book opening on Monday, according to market sources, in an early signal of robust appetite for one of the largest equity raises on the Athens bourse this year.
The book opened at 10 a.m. on July 20 and will remain open until 4 p.m., with the broader public offering running through July 22. Sources said the target amount had been fully covered shortly after 10:30 a.m., with orders continuing to pour in.
Demand is coming primarily from foreign institutional portfolios, the same sources said, and AKTOR may opt to raise more than originally planned. Figures of €700 million to €750 million are circulating among Athens brokerage desks, while early estimates suggest total bids could exceed €2 billion once the offering closes.
AKTOR, one of Greece’s largest construction and infrastructure groups, is raising the capital to help finance an investment program worth €3 billion through 2030.
How the offering is structured
Of the new shares, 20% will be offered in Greece to retail and qualified investors, with the remaining 80% placed with institutional and other eligible investors abroad through a private placement and international bookbuild. The board can reallocate shares between the two tranches depending on demand, provided the Greek public tranche keeps at least 20% of the total, demand permitting.
The maximum offer price has been set at €13.52 per share, in line with the stock’s July 17 close. The final price, which will apply to both tranches, is expected to be announced on July 23 once the book closes.
Source: OT.gr
