The biggest IPO in Greece in nearly 25 years – a 30%-stake of the Athens International Airport (AIA) – has attracted unprecedented interest by foreign and domestic investors for an ATHEX-listed company.
According to available information in the early afternoon, offers for the 90 million AIA shares will reach between seven and eight billion euros, with the market sources saying the price per share will reach the maximum envisioned rate of 8.20 euros, meaning AIA will drain 738 million euros from the markets.
The book-building process was completed in the afternoon on Thursday. Usually, the final figures are announced the next day, which is Friday, Feb. 2, and before the opening of trading on ATHEX (10 a.m. or 08.00 GMT). According to other sources, roughly 85% of offers emanated from investors outside Greece.
By all estimates, the share of the Eleftherios Venizelos AIA will immediately be traded as a “blue chip” on ATHEX’s “big board”.
The major public offering comes after the listing of Optima Bank on the Athens Stock Exchange (ATHEX) and the successful placement of stakes held by the Hellenic Republic Asset Development Fund (HRADF) in systemic banks National Bank of Greece (NBG) and Alpha Bank. Another placement by Piraeus Bank, the third of four systemic banks in the country, is expected in March 2024.