Athens International Airport Shares Ready for Trading

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Welcome to the news! Today in Athens, Greece, a major privatization deal has been successfully completed. The country has sold its 30% stake in the largest airport operator through an initial public offering (IPO), officials have confirmed. The shares of Athens International Airport are set to commence trading on the Athens stock exchange later this week, according to a statement from the airport.

Finance Minister Costis Hadzidakis has hailed the listing of a new blue-chip stock as a significant boost to Greek capital markets. The IPO attracted considerable demand, exceeding the number of available shares. As a result, it raised a substantial 785 million euros ($848 million) for Greece's state HRADF privatization fund.

The share price was set at 8.20 euros, which is at the top end of HRADF's projected range. This valuation implies a market capitalization of 2.46 billion euros for Athens International Airport, solidifying its position as a major player in the Greek aviation industry.

The timing of this privatization comes as Greece's tourism industry experiences significant growth. With 32 million tourists visiting the country in 2023, a notable increase from the previous year's 28 million, Greece continues to attract visitors from around the world. In fact, Greek airports witnessed record-breaking traffic, with a staggering 72.6 million people passing through last year.

This successful privatization deal not only bolsters the Greek economy but also demonstrates the increasing confidence in the country's tourism sector.

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