ECONOMY

Greek bourse suspends trade in Piraeus Port shares

greek-bourse-suspends-trade-in-piraeus-port-shares

The Athens stock exchange on Tuesday suspended trading in shares of Piraeus Port Authority before the privatization agency unseals bids by investors for a majority stake in the country’s biggest port later in the day.

Greece, which is selling a 51 percent stake in Piraeus Port, expects that China’s Cosco Group will be the sole bidder, according to Greek officials close to the procedure.

“Following a request by the securities regulator, a temporary trading suspension on shares of Piraeus Port Authority is in place until the company informs the investment public on the board meeting of (privatization agency) HDRAF regarding the opening of financial offers,” the Athens bourse said.

[Reuters]