Athens Airport IPO Caps String of Events Showing Greece Is Back
- The blockbuster IPO comes after a hugely successful bond sale
- IPO provides airport funds to expand as tourism hit records
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If more evidence was needed that Greece has come roaring back, the country’s biggest initial public offering in more than two decades has provided just that.
Investor interest in the sale of a 30% stake in Greece’s main tourist gateway, the Athens International Airport, was so great that demand exceeded the deal size just hours after the books opened. The state raised €784.7 million ($854 million) through the sale of its holding in the 23-year-old airport, known as Eleftherios Venizelos, with the IPO priced on Friday at €8.2 a share, the high end of the range.