A share capital increase of up to EUR 500 million was announced by GEK TERNA, confirming the report of mononews.
The AMP will be done. through private placement to specific/institutional investors, with accelerated book building, which was opened immediately.
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Information suggests that already The book has already been covered once.
The disposal price is expected to reach EUR 42 to 43, depending on how many times the book will be covered.
The communication from GEK TERNA:
GEK TERNA S.A. (the «Company») announces that it has entrusted the «Banco Santander, S.A.», «Mediobanca Banca di Credito Finanziario S.p.A.» and «Morgan Stanley Europe SE» As World Coordinators and, together with «AXIA Ventures Group Ltd.», as Co-managers of the Book of Tenders, to initiate on its behalf an accelerated book of offerings for the private placement of new common, intangible, nominal shares of the Company with voting rights, of nominal value of EUR 0,57 each (the «New Shares»), with a view to raising capital of around €500 million.
Upon completion and on the basis of the results of the accelerated offer book process, the Company's Board of Directors is expected to approve the increase in the Company's share capital, through the issuance of New Shares, with the exclusion (repealing) of preference rights (or «Share capital increase»), based on the authorisation granted to him under its decision of 16.06.2026 Regular General Meeting of the Company's shareholders, in accordance with the provisions of Articles 24(1)(b) and 27(4) of Law 4548/2018.
New Shares will be made available to experts, institutional and other eligible investors involved in the accelerated book of bids process (accelerated book build), through private placement, which is not a public offer, and in any case subject to the applicable exemptions from the applicable prospectus publication requirements in accordance with Regulation 2017/1129 of the European Parliament and of the Council of 14 June 2017 and any other applicable legislation. Revenue from the Private Installation is expected to enhance the Company's financial flexibility and ability to exploit investment opportunities beyond its current business plan — strengthening its position as a leading investor and infrastructure manager with an investment rating in Greece.
In particular, the Company will use net revenues to support the continuous expansion of its infrastructure and concessions platform, particularly in Greece, and in particular to finance its designated investment programme in the transport, water, energy, and other related infrastructure, including concession and PPP projects beyond its current business plan. Both the Company and Mr. George Peristeris, the largest shareholder of the Company, have entered into usual stock-taking obligations (lock-up) for a period of 180 days since the completion of the Share Capital Increase. The Company will inform investors about the Share Capital Increase and the results of Private Placement upon completion of the tender book process, through subsequent announcements.
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