Lamda Development Share Placement Oversubscribed Fivefold

Demand for a 6.74% stake in Lamda Development exceeded expectations, with the share placement reportedly closing in just one hour and drawing interest more than five times the available offering, according to market sources.

The placement involved 12 million shares held by Voxcove Holdings, owned by Vasilis and Nelly Katsos and Panos Germanos. The transaction drew significant attention from major institutional investors, with over 75% of demand coming from long-only investors, underscoring strong interest in the Greek real estate developer.

Sources said prominent names from the international investment community took part in the offering. The shares were priced at €6.15 each, reflecting a 7.79% discount compared to Lamda’s closing price of €6.67 on the Athens Stock Exchange.

With the completion of the sale, Voxcove Holdings has fully exited its position in Lamda Development, raising €73.8 million from this latest transaction.

This follows an earlier sale in February, when Voxcove sold a 3.2% stake—equivalent to 5.75 million shares—for €39.1 million.

Source: tovima.com