Greece to launch Athens airport IPO on Jan. 25

Greece on Thursday will launch an initial public offering (IPO) for a 30% stake in Athens International Airport, a sale which along with a company dividend could yield up to E1.2b for the state, according to sources. The country is selling 90m shares, through a combined offering to Greek and foreign investors and existing shareholders, in its biggest IPO after its 2010-2018 debt crisis. Athens International Airport, the operator of Greece's biggest airport, has set the price range for its IPO at E7.0 to 8.2 ($7.62 to $8.92) per share, the country's privatisation agency said on Wednesday The IPO will run from Jan. 25 to Feb. 1 and the final pricing will be determined following the six-day book-building period. The listing on the Athens Stock Exchange is expected to take place in February and the company's free float is expected to be about 19%.<br/>