Greece will list 30% of Athens International Airport shares on the stock exchange through an initial public offering (IPO) and separate agreements with existing shareholders.
The listing of Eleftherios Venizelos Airport on the Athens Stock Exchange is expected to be the largest IPO in Greece in the last 15 years.
Current shareholders AviAlliance GmbH and members of the Copelouzos family will have the right to acquire a 10% and 1% stake respectively in AIA. The listing could take place in early February.
Athens International Airport recorded record traffic of over 28 million passengers in 2023. It exceeded the previous record of 2019 by 10.2%. “Which demonstrates its ability to bounce back after the Covid-19 pandemic,” AIA said in a press release.
The Greek state currently owns 55% of Athens International Airport. The rest is shared between private investors, mainly the German airport management company AviAlliance. AviAlliance GmbH and AviAlliance Capital together have a 40% stake. The Greek family Dimitris Copelouzos has a 5% stake.
The listing of a 30% stake in Athens International Airport comes at a time when Greece is gradually returning to normal after a debt crisis that lasted more than a decade. The Greek government wants to take advantage of strong investor appetite for Greek assets. Last year Greece regained its investment grade rating.
The Director of the Greek Privatisation Agency (HRADF) is Dimitrios Politis. He said a 30% stake in Athens International Airport could be valued at €1bn, depending on market conditions.
Photo Source: hotnews.ro