It is not at all common in the Greek market to offer a significant percentage -12.67% of the shares and voting rights, in this case- of a listed company to institutional investors.
The second element that is also not at all common for the Greek reality is the following: The vast majority of institutional investors in the domestic market accepted and participated in divvying up of the percentage – mutual fund management companies, asset management companies, insurance companies funds and institutions.
These two uncommon things happened in the case of the sale through private placement of 12.67% of the total shares and voting rights of the listed Ideal Group.
Virtus South European Fund was the seller .
The offering price was set at 3.20 euros per share and due to high demand the final number of shares sold was 3,987,625 shares or 12.67% of the total company shares.
It is recalled that Virtus South European Fund directly owned 15,038,063 shares of the company, ie 47.78% after the completion of the share capital increase with the in-kind contribution of the companies SICC Limited (Astir Vitogiannis AE) and ESM Effervescent Sodas Management Limited ( Three Cents).
Please note that this transaction is not related to the mandatory public offering of Terniale Ltd. which is in progress and continues normally.
Damianos Papakonstantinou, Partner of Virtus International Partners, which manages the Virtus South European Fund, said: investors with their position give a vote of confidence to the Ideal Group “.
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