OPAP offer reportedly covered three times, mostly by foreigners

The public offering for 16.44 percent of gaming group OPAP was covered about three times with the price set at 24.14 euros per share, a source close to the deal said yesterday. «The offer was covered 4.2 times abroad and 1.2 times in the domestic market,» the source told Reuters. The Greek government is expected to raise about 1.27 billion euros ($1.54 billion) from the fourth offering of OPAP shares. An official announcement of the price is expected this morning. «The institutional investors from abroad took 60.5 percent of the new shares and the rest went to institutional investors and retail investors from Greece,» the source said. Before the latest sale, the state owned 51 percent of OPAP. Shares closed on Friday at 24.34 euros, up 0.8 percent. (Reuters)

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