With record arrivals in 2023 and a reputation as one of the European Union’s best airports, Greece reportedly plans an initial public offering (IPO) of Athens International Airport on the Athens Stock Exchange in February.
Two sources not named by Reuters said the New Democracy government wants to divest a 30 percent stake owned by the Hellenic Republic Asset Development Fund (HRADF), the country’s privatization agency.
https://www.reuters.com/markets/deals/greece-plans-athens-airport-ipo-february-sources-2024-01-10/
A similar attempt was in the works from 2018-2020 but was halted when the COVID-19 pandemic brought international air traffic to a near stop and put the idea on ice until now.
The Greek sovereign wealth fund HCAP (Hellenic Corporation of Assets & Participations) holds another 25 percent stake in the airport that in 2023 handled more than 26 million passengers, mostly foreigners, a 25 percent hike.
An IPO for a 19 percent stake in the airport and the listing is seen happening “in the first half of February,” a senior HRADF official told Reuters, speaking on condition of anonymity.
Another official told the news agency in 2023 that the airport would be listed in the first quarter of 2024 to Germany-based airport manager AviAlliance, which has a 40 percent stake, a further 10 percent at a premium to the IPO price.
An additional stake of 1 percent will be sold to the Copelouzos family, which owns 5 percent of the airport, the HRADF official said. The move will require the Parliament to approve amendments to a 1995 deal signed between the state and the airport company which set out the terms for the operation of the airport.
Read more at thenationalherald.com
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