The completion of the €660 million share capital increase through accelerated book building—that is, in a very short period of time—represents a strong vote of confidence in the Greek economy and GEK TERNA, company sources note.
The order book was filled within the first 15 minutes of the process, and in less than two hours, the offering was oversubscribed sixfold.
The participation of almost exclusively foreign institutional investors underscores the international recognition of the strategy and growth prospects of the only infrastructure group with an investment-grade rating from Moody’s and S&P.
The funds raised will be used to finance GEK TERNA’s development plan in the critical infrastructure sector, both within and outside Greece, beyond its current business plan.
As the same sources note, the share capital increase strengthens the balance sheet against future financing needs and significantly enhances the company’s creditworthiness. The decision to pursue a share capital increase, rather than alternative financing instruments, reflects the Group’s prudent financial policy and its commitment to maintaining strong credit metrics.
The increase in the free float resulting from the rights offering paves the way for GEK TERNA’s inclusion in the MSCI Developed Markets Index, a development that will enhance liquidity and attract new capital from international portfolios.