The price range for a 15.7% share offering in Greece's Public Power Corp. (I.PPC) has been set between EUR16.40 and EUR17.72, a source close to deal told Dow Jones Newswires Tuesday.
The state is offering offers 36.5 million shares, including an over-allotment option of 5.4 million shares, to local and foreign institutional investors. The book opens Wednesday and closes Friday.
The state controls 67.5% of Public Power Corp. and has twice sold stakes in the company.
December's offering was 4.6 times oversubscribed, and the final price was EUR12.40, after the price range had been set at EUR11.80-EUR13. That pricing included a 2% discount on the share's closing price before the announcement of the price range.
The state is offering offers 36.5 million shares, including an over-allotment option of 5.4 million shares, to local and foreign institutional investors. The book opens Wednesday and closes Friday.
The state controls 67.5% of Public Power Corp. and has twice sold stakes in the company.
December's offering was 4.6 times oversubscribed, and the final price was EUR12.40, after the price range had been set at EUR11.80-EUR13. That pricing included a 2% discount on the share's closing price before the announcement of the price range.
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