Our firm has advised the largest electric power producer and supplier in Greece, PPC S.A. (or “DEI”) in connection with its share capital increase, which generated gross proceeds of €1.35 billion, through the non-preemptive issue and combined offering – internationally and in Greece – of 150 million new ordinary, voting shares at an offer price of €9.00 per new share (with nominal value of €2.48).
The combined offering was oversubscribed, and this milestone transaction is expected to accelerate the transformation plan of PPC, including investments in renewables, and facilitate the energy transition in Greece. The trading of the new shares on the Main Market of the Athens Exchange Group (ATHEX) commenced on November 16, 2021.
Our Financial Regulation and Capital Markets team was led by our Partners Catherine Karatzas and Alexandra Kondyli and included our Senior Counsel Nikos Askotiris, Senior Associate Sonia Saranti, member of the Banking and Finance team of our firm and Associates Iliana Ioannou, Aristides Makripodis and Aspasia Pergamineli. Our Energy Regulation team was led by our Partner Alexandros Metallinos, assisted by Associate Anastasia Petta.