ECONOMY

PPC’s book-building process oversubscribed

ppc-s-book-building-process-oversubscribed

A book-building process for a share capital increase launched by Greece’s power utility Public Power Corporation (PPC) covered the asked amount of 1.35 billion euros within the first hour of opening, company sources cited by the semi-official AMNA news agency said on Tuesday.

The sources said that bids moved at the highest point of the price range of 9 euros per share. Based on this information, PPC’s share capital increase plan was heading towards a significant oversubscription as the book-building process will remain open until Thursday, November 4.

[AMNA]