GEK Terna announced today (30 June 2026) on Euronext Athens that it has initiated a share capital increase (SCA) aimed at raising approximately €500 million in new equity.
Accelerated Book Build Underway
The company has appointed Banco Santander, S.A., Mediobanca Banca di Credito Finanziario S.p.A., and Morgan Stanley Europe SE as Global Coordinators—and together with AXIA Ventures Group Ltd. as Joint Bookrunners—to launch an accelerated book build process. This process will facilitate a private placement of new, non-certificated, registered, voting common shares of GEK Terna A.E. (the “New Shares”), each with a nominal value of €0.57.
Board Approval and Legal Basis
Upon completion of the book build and subject to its outcome, GEK Terna’s Board of Directors is expected to approve the capital increase through the issuance of the New Shares, excluding preemptive rights. The decision follows authorization granted by the Company’s Annual General Meeting held on 16 June 2026, in accordance with Articles 24(1)(b) and 27(4) of Law 4548/2018.
Target Investors and Regulatory Framework
The New Shares will be offered exclusively to qualified institutional and other eligible investors participating in the accelerated book build. The placement is structured as a private placement—not a public offering—and benefits from applicable exemptions under Regulation (EU) 2017/1129 of the European Parliament and Council dated 14 June 2017, as well as other relevant legislation.
Use of Proceeds
Net proceeds from the 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 an investment-grade credit rating.
Specifically, the funds will support the continued expansion of GEK Terna’s infrastructure and concession platform, primarily in Greece, including investments across transport, water, energy, and related infrastructure sectors—encompassing both concession projects and Public-Private Partnership (PPP) initiatives outside the company’s existing operational plan.
Lock-Up Commitments
Both GEK Terna and its largest shareholder, Mr. Georgios Peristeris, have agreed to standard 180-day share lock-up commitments following completion of the capital increase.
The company will provide further updates to investors regarding the capital increase and the results of the private placement in due course.