A book-building process for a private placement of HelleniQ Energy Holdings SA common shares was opened on Thursday, according to Greece’s privatization agency (HRADF) – confirming previous ot.gr reports.

According to a relevant announcement, the common shares will be offered by the Hellenic Republic Asset Development Fund, as the agency is officially called, and Paneuropean Oil and Industrial Holdings S.A. The former holds 35.48 percent of HelleniQ, one of southeast Europe’s biggest petrochemical and refinery concerns, while the latter holds 47.10 percent.

The rest of the shares are publicly traded.

The total number of shares to be offered by the two majority shareholders corresponds to roughly 10 percent of the refinery group’s equity.

The price per share and the number of common shares to be offered by each of the two majority stakeholders will be determined through the book-building process. Reuters previously reported that the process was also due to end on Thursday.

Goldman Sachs Bank Europe SE and J.P. Morgan SE are the joint international coordinators of the private placement.