Noval Property (Viohalco group) enters the final stretch for listing on the Athens Stock Exchange, consolidating its real estate portfolio and its further development with investments of 340 million euros until 2030.
Noval’s public offering will run from May 29 to May 31, with the binding price range to be announced on Tuesday. The goal is to raise a total of 52 million euros. The maximum offering price of the new shares was set at 2.82 per share.
This price is reduced by 29.1% (discount) in relation to the internal accounting value of the company on December 31, 2023 (427.4 million euros or 3.98 euros per share).
Asked to comment on the discount, the managing director of Noval, Panagiotis Kapetanakos, noted that the maximum price was determined based on market conditions and aiming to attract the interest of investors. “We want happy shareholders after the listing,” he noted.
