Greece’s biggest initial public offering in over two decades, the sale of a 30% stake in Athens International Airport, has exceeded investor expectations as demand outstripped the deal size within hours of opening. The Greek state raised €784.7 million ($854 million) through the sale, which will help the country’s largest airport to expand and increase its capacity. The IPO, along with Greece’s recent successful bond sale and strong economic performance, highlights the country’s recovery from its financial crisis over a decade ago. The airport is a crucial part of Greece’s tourism sector, which accounts for around 25% of the economy and set new records in 2023. The airport is planning a three-phase expansion to increase its capacity to 50 million passengers by 2046.
Greece’s Largest Airport IPO Surpasses Expectations, Reflecting Country’s Economic Rebound
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