A book-building process for a 30-percent stake (90 million shares) of the Athens International Airport (AIA), currently held by Greece’s privatization agency, the Hellenic Republic Asset Development Fund (HRADF), commences on Thursday and run until Feb. 1.

AIA operates the Eleftherios Venizelos International Airport of Athens, the biggest and busiest airport in the country, with some 28 million passengers passing through its gates last year – or approximately 35% of passenger traffic through all of Greece’s airports.

The combined offering to Greek and foreign investors as well as existing shareholders is biggest initial public offering (IPO) in the country after the bailout era. AIA shares will be traded, probably beginning in February on the Athens Stock Exchange’s (ASE).

A prospectus was approved by the Hellenic Capital Markets Commission on Wednesday and posted on the ASE website.

AviAlliance, which holds a 40%-stake in AIA, retains an option to purchase a further 10% stake at a premium over the IPO price.