GEK Terna announced today (30 June 2026) on Euronext Athens that it has launched a share capital increase (SCA) to raise approximately €500 million in new equity. The company has initiated an accelerated book build process, and according to market reports, investor demand significantly exceeded expectations.
Global Coordinators and Bookrunners
The transaction is being managed by Banco Santander, Mediobanca, and Morgan Stanley Europe as global coordinators—and jointly with AXIA Ventures Group—as joint bookrunners of the offering.
Details of the Offering
The SCA involves the private placement of new, non-par, registered, voting common shares (the “New Shares”) with a nominal value of €0.57 each. The issuance will be carried out without granting pre-emption rights to existing shareholders, based on authorisation granted by the company’s Annual General Meeting held on 16 June 2026, under Articles 24(1)(b) and 27(4) of Law 4548/2018.
The New Shares will be offered exclusively to qualified institutional and other eligible investors participating in the accelerated book build—via a private placement that does not constitute a public offer. The placement benefits from applicable exemptions from the prospectus publication requirements under Regulation (EU) 2017/1129 of the European Parliament and Council dated 14 June 2017, and other relevant legislation.
Strategic Use of Proceeds
Proceeds from the private placement are expected to strengthen GEK Terna’s financial flexibility and enhance its capacity to pursue strategic investment opportunities beyond its current business plan—reinforcing its position as Greece’s leading infrastructure investor and operator, with investment-grade credit status.
Specifically, net proceeds will support the continued expansion of GEK Terna’s infrastructure and concession platform, primarily in Greece, including targeted investments in transport, water, energy, and related sectors.