Thu. Sep 21st, 2023
    Greece to List Athens International Airport on Stock Exchange

    Greece has announced plans to list the Athens International Airport, the country’s largest airport, on its stock exchange in the coming year. The sale of a 30% stake in the airport, currently owned by the privatisation agency HRADF, has received approval from the airport’s shareholders. Originally scheduled for the first half of this year, the sale will now proceed, with Germany-based manager AviAlliance also set to acquire a 10% stake. The remaining 20% will be sold through an initial public offering (IPO) to be listed on the Athens Stock Exchange.

    Greece has been divesting stakes in various industries, including ports and energy companies, to boost competition and reduce its debt, which remains the highest in the euro zone. After overcoming a decade-long financial crisis and three international bailouts totaling approximately 260 billion euros, Greece has made significant progress in fixing its finances and its economy has outperformed its European counterparts. This month, the country regained an investment grade credit rating after 13 years.

    Finance Minister Kostis Hatzidakis emphasized that Greece is committed to achieving its fiscal targets, regaining an investment grade from all major ratings agencies, and further reducing its public debt. The government projects a primary budget surplus of 0.7% of GDP this year and has announced measures to combat tax evasion and promote the use of digital payments in property purchases.

    Sources: Reuters