The procedures for the admission of Athens International Airport to the Stock Exchange are proceeding at a fast pace. But how will this happen?
The plan of the Hellenic Investment Fund (TAIPED) foresees that, if the new government gives the green light, 30% of the airport will be listed on the stock exchange, in particular, 20% through a public offering, while the remaining 10% will go to the current major shareholder, AviAlliance, through a private placement.
Barring any unforeseen eventuality and according to information from the Hellenic State Property Fund, a memorandum is expected to be signed today between the shareholders of Athens International Airport, with a view to changing the rules of corporate governance.
The agreement is a memorandum of understanding between the Athens Airport Authority and the airport on the modification of the Memorandum of Understanding (MoU).
necessary ‘internal’ procedure, as any major shareholder change is subject to shareholder ratification.
Subsequently, and through the Parliament, the airport concession contract will be amended so that part of AIA will then be listed on the stock exchange.
AIA is managed and operated as a private sector company, with the Greek State holding 55% of the shares (30% TAPED and 25% Ypertafondo) and the remaining 45% held by private parties (Avi Alliance 40% and the Copelouzos family 5%).