The share capital increase of PPC was completed with over-coverage more than three times today as the company gathered offers from Greeks and foreigners, institutional and non-institutional investors in excess of them. 4 billion euros against 1.35 billion which was the ceiling set by the PPC management.
“The completion of the combined offer process in the context of PPC’s Share Capital Increase with great success both in Greece and abroad, with multiple overlap, proves in practice the investment community’s confidence in the prospects of PPC and the Greek economy in general.” PPC President and CEO George Stassis said in a statement: “This transaction is a milestone for PPC as it will allow it to accelerate its transformation program and investment plan in Renewable Energy Sources with the aim of significantly increasing of the operating profitability of the Group. At the same time, it will contribute to the achievement of the goals we have set in the context of the energy transition for the transformation of PPC into an environmentally sustainable and digital energy company “.
According to information from the company, 90% of investors are funds with a long-term strategy. The list of new shareholders of PPC includes, apart from the main shareholder, which is the Greek State, some of the largest investment funds in the world, which include: CVC, Oak Hill, EBRD, BlackRock, Fidelity, Wellington,, Helikon, Covalis, GAMA, Discovery, Zimmer, Kayne Anderson, T Rowe, Millennium Partners, Hengistbury Inv. Partners, Light Sky, JNE Partners, Ghisallo Capital, Fiera Capital, Schronfeld Strategic Advisors.
It is worth noting that if the amounts covered by the Superfund, CVC and the European Bank for Reconstruction and Development are excluded, the remaining amount was exceeded by 5 times. According to the results of the issue, 87% of the investors who participated in the increase come from abroad and 13% from Greece while 20% are existing shareholders and 80% new investors.
“The funds raised by PPC will finance the investment program of Euro9.3 billion in RES by 2026, making PPC a leading force not only in Greece, but in the whole region of SE Europe. With these investments, PPC “It strengthens its position as an important regional energy company and at the same time upgrades the geopolitical power of the country”, emphasize the same sources.
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