White & Case advises on Athens Airport IPO

Press Release
1 min read

Global law firm White & Case LLP has advised Hellenic Republic Asset Development Fund (HRADF), as selling shareholder, on the initial public offering (IPO) and listing on the Athens Stock Exchange of Athens International Airport S.A. (AIA).

It is one of the largest-ever IPOs on the Athens Stock Exchange and saw strong interest from investors globally and in Greece. It priced at the top of the range at €8.20 per share, raising a total of around €785 million for HRADF, including proceeds from cornerstone investors, valuing AIA at approximately €2.46 billion.

The IPO comprised solely of a secondary offering of shares by HRADF undertaken through an offering to eligible international institutional investors outside of Greece and a public offering to retail and institutional investors in Greece.

AIA is responsible for the management and operation of Greece’s largest aviation hub, the Athens International Airport. AIA was established in June 1996 as a pioneer public-private partnership, the first major greenfield airport with the participation of the private sector.

The White & Case team which advised on the transaction was led by partners Jonathan Parry and Laura Sizemore (both London) and included counsel Bob Lehner (Chicago) and associates George Davie, Dimitrios Lyratzakis (both London) and Adrien Dumoulin-Smith (Paris). 

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