ATHENS, Greece — Greece accomplished a serious privatization Friday, promoting its 30% stake within the greatest airport operator within the tourism-reliant nation throughout an preliminary public providing, officers stated.
Shares in Athens Worldwide Airport are anticipated to start buying and selling on the Athens inventory alternate beginning Wednesday, the airport stated in an announcement.
Finance Minister Costis Hadzidakis stated the itemizing of a brand new blue chip inventory would supply a powerful increase to Greek capital markets.
The preliminary public providing drew demand that exceeded the variety of shares accessible, elevating 785 million euros ($848 million) for Greece‘s state HRADF privatization fund.
The share worth was set at 8.20 euros, on the high finish of the vary envisaged by HRADF, implying a market capitalization of two.46 billion euros for the airport.
Some 32 million vacationers visited Greece in 2023, up from about 28 million a yr earlier. General site visitors at Greek airports hit a historic excessive of 72.6 million individuals final yr, up 14% on the yr, in accordance with Greece’s civil aviation authority.
Throughout Greece’s 2010-18 monetary disaster, the nation privatized a broad raft of state belongings. The method has continued at a slower tempo since, with the state lately offloading its stakes in main Greek banks and urgent forward with harbor and freeway concession offers.