ΑKTOR Group is launching a capital raising plan aimed at funding investments of around 3 billion euros by 2031, seeking to raise 1 billion euros through a share capital increase and a bond issue.
The new growth strategy was presented by AKTOR Chairman and Chief Executive Alexandros Exarchou, who described it as a roadmap for transforming the group into a diversified infrastructure and energy company with a stronger presence in Southeast Europe and a greater contribution from businesses generating recurring cash flows.
The plan includes an expansion into the retail energy market, investments in energy storage systems in Bulgaria, participation in new concession projects in Romania and interest in the port of Elefsina.
Under the strategy, management has set a long-term target of increasing revenue to 4.5-5 billion euros and adjusted EBITDA to 600-700 million euros by 2031. In the medium term, it expects revenue of 2.3-2.8 billion euros and adjusted EBITDA of 375-425 million euros, while aiming for around 60% of operating profitability to come from activities with recurring cash flows, mainly concessions and energy.
Net leverage is projected to reach between 3.5 and 4 times EBITDA over the long term. The investment programme will be financed primarily through a 650 million euro share capital increase and a 300 million euro bond issue.
Exarchou said both transactions have secured underwriting commitments from major international financial institutions, reflecting confidence in the group’s growth strategy.
Of the planned 3 billion euros of investments, AKTOR intends to allocate 40% to concession and public-private partnership (PPP) projects, another 40% to energy, 10% to construction and 10% to LNG trading.
Of the planned 3 billion euros of investments, AKTOR intends to allocate 40% to concession and public-private partnership (PPP) projects, another 40% to energy, 10% to construction and 10% to LNG trading.
The share capital increase, subject to approval by shareholders at the annual general meeting on July 16, will be carried out without pre-emptive rights for existing shareholders through a combined public offering in Greece and a private placement to international institutional investors. A preferential allocation mechanism will be available for existing minority shareholders holding less than 3%.
Management expects the process to be completed in the second half of July.
The share issue will be underwritten by BofA Securities Europe, Goldman Sachs Bank Europe and UBS Europe, while UBS Europe will underwrite the bond issue.
Exarchou said the company is primarily targeting long-term foreign institutional investors. The offering is expected to be allocated 80% to international investors and 20% to Greek investors, while the company will retain discretion over the final shareholder allocation.
Ahead of the capital increase, management will conduct investor presentations in the United States, London and potentially Frankfurt. Exarchou said foreign investor interest in Greece has increased over the past year, citing political stability and improving economic prospects among the key drivers.
Following completion of the share issue and bond offering, AKTOR Group will have raised approximately 1.5 billion euros through equity and debt transactions over a period of around four years.
Four growth pillars
Four growth pillars
The bulk of the investment programme will be directed towards concessions and public-private partnerships, renewable energy and liquefied natural gas (LNG), while construction will remain a core pillar of the group’s business model.
Προτιμώμενη πηγή στην Google
Για να εμφανίζονται περισσότερα άρθρα της Ναυτεμπορικής στις αναζητήσεις σας εύκολα και γρήγορα, πρέπει να προσθέσετε το site στις προτιμώμενες πηγές σας. Μπορείτε να το κάνετε πηγαίνοντας εδώ.
