Athens Airport IPO starts
A 10% share from HRADF's stake has already been subscribed by German-registered AviAlliance, previously known as Hochtief Airport, which is owned by Canadian fund PSP Investments. PSP owns 40% of AIA, making it the airport's largest private shareholder. Greek family-owned conglomerate Copelouzos, which owns 5% in the airport, has subscribed to purchase 1% in HRADF's offering.
Talks to either list or privatise the airport had been on and off since before the pandemic, with a privatisation tender opening in mid-2020 and being cancelled with no explanation (see PFI 729). "The project to diversify the investor base of AIA will unlock long-term value for the enterprise and will deliver significant benefits to the Greek economy. It represents a great opportunity for international and domestic investors," HRADF CEO Dimitris Politis said of the 2023 IPO.
