GEK TERNA Places 6 mln Shares, Seen as Vote of Confidence by Foreign Investors

The placement represents 5.6% of the company’s total share capital

Yesterday’s share placement by GEK Terna Holding Real Estate Construction Company is being viewed, both by the market and by the company itself, as a success and a vote of confidence by foreign investors in the company and its CEO and President George Peristeris.

GEK’s initial intention was to conduct a share placement of 5 million shares, which is equal to 4.83% of the company’s total share capital.

On account of the high level of interest expressed by foreign investors, the final amount of shares offered was 6 million, or 5.6% of share capital, and books were open for just three hours.

Shares garnered an average price of 13.20 euros, reflecting a discount of 5.7%.

Around ten large European and American investors participated, and markets estimate that the company raised around 80 million euros.

The process was coordinated by AXIA Ventures Group Ltd and the resulting transactions will be processed today.

The placement will boost the company’s investment plans by providing extra capital and also improves its marketability by diversifying its investor base.