The shareholders of the Athens International Airport “Eleftherios Venizelos” signed a Memorandum of Understanding for the allocation of 30% of its shares to investors aiming at its listing on the Athens Stock Exchange at the end of the year.
According to sources, the signing of the memorandum took place at the offices of the Hellenic Republic Asset Development Fund (HRADF) between the partners – shareholders of the company, i.e. the Superfund, the subsidiary HRADF, the Canadians and the Copelouzos group. The HRADF owns 30% of the shares of Athens International Airport – AIA. The rest of the shares belong to the Superfund (25%), AviAlliance GmbH and AviAlliance Capital GmbH, both of which are controlled by the Canadian insurance fund PSP Investments (40% shares and the management) as well as the Copelouzos family (5%).
Based on the plan, 20% of the HRADF’s shares will be allocated to the Athens Stock Exchange through a public offer and 10% will be acquired by the Canadian fund with a premium on the price.
Market players estimate that the 30% of AIA’s share capital belonging to the HRADF could be valued at between 800 million and 1 billion euros
The HRADF aims:
– To capitalize on the benefits from the success story of the Athens International Airport “Eleftherios Venizelos”. In 2019 the number of passengers jumped to 24 million, in 2022 it recovered after the pandemic and reached 23 million while it is estimated that passengers will amount to 30 million in the coming years.
– To strengthen the domestic capital market which is also a strategic choice of the government.
– To raise funds that will serve the airport development plan.