Greece's PPC launches 4 billion euro share sale with CVC, state backing

Public Power SA

18/05/2026 08:14

May 18 (Reuters) - Public Power Corporation DEHr.AT, Greece's largest utility, on Monday said it launched a share capital increase aiming to raise about 4 billion euros ($4.65 billion) to fund its 2026-2030 strategic plan with backing from the Greek government and a CVC-led vehicle.

The group began a combined public and institutional offering on May 18, with pricing to be finalised after bookbuilding and capped at 19.75 euros per share.

Subscription period runs from May 18 to May 20 for both retail and institutional tranches.

Around 15% of shares are earmarked for Greek public offer, the rest for institutional investors.

CVC-backed entity Aeolus Holdings agreed to acquire new shares worth 1.2 billion euros as part of the institutional offering.

The Greek government committed to acquire shares that will result in it holding 33.4% of PPC's share capital following completion.

Proceeds to be used for PPC’s long-term plan, including expansion in renewables.

($1 = 0.8595 euros)

 (Reporting by Antonis Pothitos; Editing by Thomas Derpinghaus)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))