Bill tabled on listing of Athens airport shares
A draft law marking the completion of the necessary institutional prerequisites so that Athens International Airport (AIA) shares can be traded on the Athens Stock Exchange was tabled in Parliament on Friday.
The bill ratifies the December 7 agreement between the state and AIA that amended the initial agreement from 1995 on the airport’s development in order to trade the shares. Some of the amendments include abolishing restrictions on non-state shareholder ownership of shares and changes related to corporate governance, particularly changes in management roles.
Currently, the shareholders of AIA include the Superfund (25%), the Hellenic Republic Asset Development Fund, or TAIPED (30%), subsidiary Avi Alliance Gmbh (40% plus 60 shares) of Canada-based insurance fund PSP Investments, and the Kopelouzos family (5% minus 60 shares).
TAIPED’s 30% stake will be available to institutional investors and the investment public, as well as to existing private shareholders through private placement. The same draft law includes the ratification of the agreement with Aegean Airlines for the purchase of the company’s stock options (warrants) for 85.4 million euros, which the state has already received.
