With the largest capital raising in the history of the Greek market, PPC’s share capital increase was completed as the total offers from Greek and foreign investors reached 18 billion. EUR 18 billion. That is 4.5 times the amount sought, which was 4 billion euros, and if the 2.5 billion euros of the government’s and CVC’s participation is deducted, the oversubscription reached about 10 times.
As PPC sources point out, the amount of 18 billion. is a historical record for the Greek market and is recorded as the largest book building in the history of the Athens Stock Exchange.
The offer price was set at EUR 18.63 per share, a virtually zero discount from the closing price on the day the capital increase was announced, while the company will eventually raise EUR 4.25 billion. euros.
The raise included internationally renowned investors, both existing and new. Most of the participation came from abroad with the participation of international investment houses and prestigious institutional funds such as BLACKROCK, CAPITAL, COVALIS, AL-RAYYAN HOLDING QATAR INVESTMENT AUTHORITY, K GROUP, VANGUARD, PICTET, WELLINGTON, ADAGE, DWS, NORGES. The same sources note that the composition of the investor base represents a vote of confidence not only in the PPC Group itself, but also in the broader prospects of the Greek economy, as well as Euronext Athens. “The response of investors confirms the confidence of the domestic and international investment community in the Group’s strategy and long-term prospects and allows the Group to move even more aggressively to further strengthen its international presence in a period of rapid developments in energy and technology,” they say.
The capitalization of PPC will approach 11.5 billion after the new shares start trading next week. euros, meaning that the company will now be ranked 4th on Euronext Athens. It is recalled that in June 2019, with a capitalization of only 390 million euros, PPC was not even in the top 20 of the ranking based on capitalization on the Athens Stock Exchange. At the same time, the Group’s inclusion in the MSCI index is considered almost assured, which is expected to increase the international visibility of the stock and boost the participation of passive and institutional funds from abroad.
According to the strategic plan 2026-2030, the funds of the AMC will be used to implement the investment plan of 24 billion. which includes accelerating the development of renewable energy and flexible generation in Greece and Romania, expanding into new countries to meet Central and South-Eastern Europe’s need for energy and developing major data centres in the region.
According to the strategic plan, EBITDA will reach 4.6 billion euros. EUR 4.4 billion in 2030 from EUR 2.0 billion in 2025, while Net Profit will more than triple, reaching EUR 1.5 billion in 2030 from EUR 0.45 billion in 2025. In the same pattern, the dividend will also be significantly boosted, reaching EUR 1.4 per share from EUR 0.4 in 2024.
