Athens Airport's Initial Public Offering of shares already oversubscribed

Athens International Airport has announced the pricing of the Initial Public Offering of its shares by the Hellenic Republic Asset Development Fund, with a final offer price set at EUR 8.20 per share. Initial demand for shares is already high, with the airport confirming that over 200,000 individual applications have been received relating to the Greek Public Offering; representing around twelve times the number of shares available. Shares in Greece’s largest airport consist of an Institutional Offering (available to eligible international institutional investors outside of Greece) and a Greek Public Offering (available to domestic retail and institutional investors). The total size of the Combined Offering was set at 90 million ordinary shares, of which 86% and 14% were allocated to the Institutional and Greek Public Offerings respectively. A detailed allocation to the various categories of investors will be announced on February 6 2024, with settlement expected to take place around the same date, before shares will commence trading on the ATHEX the following day. The proceeds of the combined offering will amount to over EUR 785 million, ‘representing a landmark transaction for the HRDAF, the Company and Greek capital markets,’ notes Athens International Airport.