Greece launches IPO for 30% of Athens airport

Greece government launched an initial public offering (IPO) for its 30 per cent stake in Athens International Airport owned by the Hellenic Republic Asset Development Fund (HRADF), according to terms of the deal seen by Bloomberg News.

The listing on the Athens Stock Exchange is expected to take place in February, subject to regulatory approvals, said a senior official at HRADF.

Existing shareholder AviAlliance GmbH and members of the Copelouzos family will have the right to enter into cornerstone agreements to buy 10 per cent and one per cent, respectively.

The country is gradually recovering from a decade-long financial crisis, and initiatives like these are a welcome step towards financial recovery and stability.