IPTO Capital Increase Will Secure Major Power Projects, CEO Says

Greek power grid operator IPTO will use a coming €1 billion capital increase to advance major domestic and international projects, Chairman and Chief Executive Officer Manousos Manousakis said.

IPTO, known by its Greek initials as Admie, said on Friday it had received a letter from Energy Minister Stavros Papastavrou asking the company to begin the process of selling new shares. Each shareholder will participate in proportion to its current holding, the company said.