The process for the 4.0-billion-euro share capital increase of Public Power Corporation (PPC) will be completed by the end of May, the company’s Chairman and Chief Executive Officer George Stassis said.
An extraordinary general meeting of shareholders will be convened on Thursday, to approve the launch of the process. The book-building process will remain open for three days, while the offering price of the new shares will be determined at the end of the month.
Stassis also recalled that the previous share capital increase, in 2021, was carried out at 9 euros per share, “which demonstrates that the company can generate value for shareholders,” given that the stock is currently trading close to 20 euros per share.
Responding to questions regarding the outlook for 2026, the head of PPC said that forecasts for EBITDA of 2.4 billion euros and net profit of 700 million euros could be revised upwards were it not for the ongoing uncertainty surrounding the war in the Persian Gulf, which could persist into the summer. Such a development would affect the cost of refilling Europe’s natural gas storage facilities and, consequently, fuel prices next winter.
Potential synergies with the existing fiber-optic network
Asked about the telecommunications sector, Stassis reiterated that the company is not interested in expanding into the retail mobile phone market, but is examining potential synergies with the fiber-optic network it is currently developing.
He confirmed that the rollout of voice services — in addition to internet access services already available — to consumers will begin in June-July, while he declined to comment on the potential launch of bundled energy and telecommunications packages.
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