Qatar Investment Authority (QIA) announced Monday its participation as an anchor investor in the share capital increase of Public Power Corporation (PPC), the leading integrated energy group across the broader Southeastern Europe, listed on the Athens Stock Exchange.
The offering was multiple times oversubscribed, raising 4.25bn euro from primary shares and an additional 250mn euro through a secondary placement of treasury shares, priced at 18.63 euro per share.
The share capital increase was supported by cornerstone investments from the Greek state, which subscribed for approximately 1.3bn euro, and Aeolus Holdings, an entity owned by funds advised by CVC Advisers Greece and/or its affiliates, which subscribed for approximately 1.2bn euro.
The new shares, each with a nominal value of 2.48 euro, attracted significant demand from a number of global, long-term institutional investors as well as K Group Capital Partners, the private equity fund controlled by the Kyriakou family, which has QIA as a strategic partner and focuses on investment activities in Greece.
QIA and K Group Capital Partners, discussed the opportunity for this investment during the recently held Europe Gulf Forum in Greece.
QIA's participation reflects its strategy of deploying patient, long-term capital into essential infrastructure and businesses well-positioned to benefit from structural trends, including the global energy transition.
As a strategic platform at the forefront of Greece's energy transition, energy security and infrastructure modernisation, PPC is uniquely positioned to lead the energy transition in Southeastern Europe through targeted investments in renewables, flexible generation, distribution network modernisation, and data center development.
The investment also reinforces QIA's broader commitment to Greece as well as expanding the collaboration with K Group Capital Partners.
