ECONOMY

Capital infusion for NBG Property Services

capital-infusion-for-nbg-property-services

The management of NBG Property Services, the sector’s largest company with a property portfolio worth over 2 billion euros, has decided to raise 500 million in new capital on the Athens Stock Exchange.

The new capital will help with the development of existing properties and the acquisition of new ones.

The company’s shareholders must approve the move at a meeting on September 11.

The capital increase will be a combination of private placement with interested foreign institutional investors and a public offer in the market to both Greek and foreign investors.

If the increase is successful, the company will have 700 million euros in cash.