The summer has kicked off dynamically for companies listed on the Athens Stock Exchange, which in the last days of May and the first days of June have “raised” more than 1.3 billion euros from the markets.
In fact, the amount is very likely to further increase, if we consider the corporate transactions that have been announced by the managements for the coming weeks.
The banking sector is in the spotlight, as after Alpha Bank’s mega-deal with UniCredit (with the latter increasing its stake in the former to 20%), four bond issues followed from three different financial institutions.
And all this, while the market expects a “fresh” issue from a fourth bank very soon, as part of the sector’s effort to maintain high capital adequacy.
Piraeus Bank and Eurobank made the first move shortly before the end of May. Both raised 500 million euros through the issuance of a “green” senior preferred security and an AT1 bond, respectively. The bids in the first case reached 3.7 billion euros, while in the second case they reached 4 billion, demonstrating the great attractiveness of Greek assets.
Last Thursday it was Attica Bank’s turn to “test” its strength, as in the first international issue in its history, the bank managed to raise 100 million euros from the AT1 bond and 150 million euros from the TRT bond.
GEK TERNA also attracts interest, with institutional investors selling 5.05% of the share capital for 19 euros/share, in a transaction worth 99.3 million euros. The buyers were again institutional investors.
A few hours earlier, the placement in Alumil had also preceded it, with the family of the main shareholder, George Mylonas, liquidating 5%, “raising” the amount of 7.9 million euros, which will be allocated to repay the company’s obligations.
Let’s not forget the mini placement of Profile for 1.4% (from the reserve of own shares), through which a little more than 2 million euros were raised.
Meanwhile, the investment community, which seems to be “thirsty” for new shares, is also eagerly awaiting the share capital increase of Ideal Holdings, with the process starting tomorrow and concluding on Friday (June 11 to 13). The goal is to raise up to 48.8 million euros, given that the issuance of 8 million new shares will be carried out at prices ranging from 5.8 to 6.1 euros/share.
