Public Power Corporation on Thursday announced the successful completion of a share capital increase plan, attracting bids worth more than 4.0 billion euros, compared with the asked sum of 1.35 billion euros.
George Stassis, PPC’s chairman and CEO, commenting on the results of the book-building process, said that the completion of the process of a combined offer in the framework of a share capital increase plan with particular success both in Greece and abroad, offered proof of the confidence enjoyed by the investment community to PPC’s prospects and the prospects of the Greek economy in general. “This transaction is a landmark for PPC as it will allow it to speed up its transformation programme and its investment plan in renewable energy sources, aiming to significantly raise operating profitability. It will also contribute in achieving the goals set in the framework of energy transition for the transformation of PPC into an environmentally sustainable and digital energy company.”
PPC sources said that 90% of investors participating in the share capital increase were long-term strategy capital and that among the investment funds included were: CVC, Oak Hill, EBRD, BlackRock, Fidelity, Wellington, , Helikon, Covalis, GAMA, Discovery, Zimmer, Kayne Anderson, T Rowe, Millennium Partners, Hengistbury Inv. Partners, Light Sky, JNE Partners, Ghisallo Capital, Fiera Capital, Schronfeld Strategic Advisors. An 87% of investors were foreign and 13% domestic.