ATHENS, July 4 The renewable energy business of
Greece's biggest construction company Ellaktor will
next week launch an initial public offering (IPO) of shares on
the Athens Stock Exchange, it said on Friday.
The offering by ELTEH Anemos will be the first on the Athens
bourse since the Greek debt crisis began in 2009.
ELTEH Anemos will offer 20.6 million new shares from July 9
to 11, seeking to raise 6.2 million euros ($8.5 million),
according to an indicative timetable in the offering prospectus.
The IPO got the approval of the Greek capital market
regulator on Thursday. The new shares are expected to be listed
for trade on July 23.
Greek stocks were battered by the belt-tightening prescribed
by Greece's creditors, the European Union and the International
Monetary Fund, in exchange for about 240 billion euros in
bailout aid to keep the country stay afloat.
But with the country expected to emerge from a six-year
recession this year, and after a successful return to bond
markets in April after a four-year exile, market sentiment is
($1 = 0.7331 Euros)
(Reporting by Angeliki Koutantou; Editing by David Holmes)