Lamda raises 650 million euros in rights issue
![Lamda raises 650 million euros in rights issue](https://www.ekathimerini.com/wp-content/uploads/2021/01/gkat_25_1009_page_1_image_0002-thumb-large--2-thumb-large-thumb-large.jpg)
Lamda Development raised 650 million euros via a rights issue to help finance part of a landmark project at Athens’ former Elliniko airport, it said on Tuesday.
Lamda, controlled by the Latsis family, announced the cash call in October to help fund a 8-billion-euro plan to turn Elliniko into a complex of luxury homes, hotels, offices and a casino.
The equity sale was oversubscribed by 1.1 times with 99 percent of it covered by investors who exercised their preemptive rights, Lamda said in a bourse filing.
[Reuters]