Seven high-profile placements, with a total value of 3.1 billion euros, have taken place on the Athens Stock Exchange, proving in practice the high attractiveness of domestic assets.
The recent sale of 7.2 million Mytilineos shares by Evangelos Mytilineos (5% of the share capital), for the amount of 255.6 million euros, is the last link in this long and totally profitable chain.
The significant improvement in valuations and the General Index’s climb to 13-year highs are no doubt helping key shareholders to take a decision for a deal, given that they are selling at better prices while at the same time increasing their liquidity.
The 7 crucial placements
On May 9, Apostolos Vakakis sold 3% of the company’s shares for 27.2 euros/share, raising 108.8 million euros.
On April 30, it was the turn of Nikos Lykos, with the main shareholder of Austriacard successfully completing the placement for 15% of the share capital. It was a deal worth 32.8 million euros, or 6 euros/share.
One of the most emblematic stock market moves concerned the mega-placement for 27% of Piraeus Bank’s shares, which took place in the three-day period from March 4 to March 6. The Greek government sold the majority package at the price of 4 euros (the only transaction with a premium), generating revenues of more than 1.3 billion euros.
On January 18, GEK TERNA sold 5.8% for 13.2 euros/share or 79.2 million euros.
In the case of Helleniq Energy, the main shareholders (Latsis family and the state) sold 11% of the shares on December 12, raising 7 euros/share or 235 million euros.
On its part, National Bank, on November 16, sold 22% for 5.3 euros/share or 1.06 billion euros. Within the next months, the government will proceed with the sale of the remaining 18%.
The scenarios
The domestic capital market may also be waiting for further placements from specific listed companies, such as Kri Kri and Attica Group, whose main shareholders wish to increase the dispersion and strengthen the attractiveness, contributing to the further upgrade of the Athens Stock Exchange.
Μοreover, it is also the Viohalco Group, which always has a central role in the controversial scenarios.
The seven placements of the last months on the Stock Exchange
- Mytilineos (5% of shares – 255.6 million euros)
- Jumbo (3% of shares – 108.8 million euros)
- Austriacard (15% of shares – 32.8 million euros)
- Bank of Piraeus (27% of shares – 1.35 billion euros)
- GEK TERNA (5.8% of shares – 79.2 million euros)
- Helleniq Energy (11% of shares – 235 million euros)
- National Bank (22% of shares – 1.06 billion euros)
