Interest abroad in GEK Terna

The GEK Terna group added liquidity of 79.2 million euros to its arsenal ahead of the large investments it is expected to implement in the coming years.

Besides the cash, the private placement - through an offer book that opened late on Thursday afternoon - also demonstrated the keen interest of foreign institutional investors in participating in the share capital of GEK Terna, even though the placement was made at a price of €13.2 per share, some 5.7% higher than the stock's price on Thursday, while some of the investors who participated had acquired shares at a much lower level. The average share price of GEK Terna in the last 12 months was €12.90.

GEK Terna said that through this process 6 million shares were allocated (out of 5 million which was the initial target), corresponding to 5.6% of the share capital. The shares were acquired from 10 large institutional...