Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Greek state fund to IPO airport
World exchanges

Greek state fund plans to list the country’s largest airport

05.05.2023
2 min read

Greek state fund wants to IPO Athens airport

The Greek state fund is planning to carry out an IPO of the Athens International Airport. The state owns 30% of the shares in the company, which is valued at 800 million to 1 billion euros. Necessary support for the procedure will be provided by Bank of America and Morgan Stanley, Deutsche Bank also acts as a consultant. The deal is scheduled for the second half of 2023.
According to experts Bloomberg, the planned IPO has every chance to become the largest for Greece since 2000. So far there is no clear information about the details of the listing or the volume of shares sold and their price.
It should be noted that the Greek state fund decided to hold an IPO during the recovery of the European market. In 2022 it demonstrated weak activity caused by record growth of inflation and a slowdown of the global economy. Experts hope that in 2023 the situation will change for the better and the number of IPOs will increase significantly.
The Asset Development Fund deals with the privatization of assets and implements the Greek Asset Development Program. It was established in 2011 in order to pay off the country’s debt obligations. During this period, the Fund sold a number of state properties and leased islands. In 2022, it put up for sale stakes in the ports of Alexandroupoli and Igoumenitsa. Prior to that, the Greek port of Piraeus was sold, with a controlling stake acquired by a terminal operator from China.Greek state fund Between 2011 and 2020, the fund carried out 48 privatizations with total proceeds of 9 billion euros. In addition, the organization created about 20 thousand jobs in the country. Now, the fund wants to attract investment into the local economy by selling the Eleftherios Venizelos airport in Athens. It is considered the largest airport in Greece, with 22.7 million passengers registered here in 2022 alone. This figure exceeds the results of 2021 by 84%, indicating the recovery of the Greek tourism sector.
The pandemic and the almost complete suspension of global air travel in 2021 led to a liquidity crisis for Greek airports. As a result, they were unable to make their payments on time and sent official letters to the relevant ministry asking for a postponement. Among these airports was Athens Airport. The income of the airport company decreased significantly and it could not meet its economic obligations due to the suspension of passenger traffic. The airport’s debt amounted to approximately 44 million euros.
Then, as part of the market support, the government allowed the deferral of payments, and a program of support for the aviation sector was introduced. Since the resumption of international flights, the revenues of Greek airports have increased, allowing them to meet all or part of their financial obligations.

Tags: World exchanges
0
Previous Post Local promotion: how to attract local customers Next Post Eni will develop gas fields in Libya

You Might Also Like

Bybit
World exchanges
Cryptocurrency exchange Bybit provided information about the volume of stored assets
29.01.2023
St. Petersburg Stock Exchange
World exchanges
Trading volumes on the St. Petersburg Stock Exchange are growing: an overview on the stock market
07.10.2021
Binance.US
World exchanges
Binance.US acquires brokerage company Voyager Digital
19.04.2023
Deutsche Börse
World exchanges
How the Frankfurt Exchange Deutsche Börse works
24.06.2020
Cryptocurrency exchange Binance
World exchanges
Cryptocurrency exchange Binance creates its marketplace for NFT-tokens trading
25.01.2022
Bitfinex exchange
World exchanges
Bitfinex exchange has launched its social network for traders
31.12.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics