Public Power Corp. (PPC), Greece’s dominant electricity utility and producer, on Thursday announced its intention to float a 750-million-euro share capital increase along with a book-building process to determine the offer price, a relevant announcement by the ATHEX-listed and state-run company stated.

PPC said the share capital increase aims to fund its updated strategic plan.

According to the announcement, the new shares will be floated via a public offering in Greece and through a private placement with institutional investors abroad.

The utility proposes that the share capital increase be conducted in a non-pre-emptive basis, although it’s also proposed that a priority allocation mechanism apply for the allocation of new shares for existing shareholders’ participation percentage in the share capital of the company.

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