Yiannis Latsis

Lamda Development raised 650 million euros via a rights issue to help finance part of a landmark project at Athens' former Elliniko airport, it said on Tuesday.
Lamda, controlled by the Latsis family, announced the cash call in October to help fund a 8-billion-euro plan to turn Elliniko into a complex of luxury homes, hotels, offices and a casino.

The main stakeholder in the vehicle to develop the plot at Elliniko, the Latsis family's Lamda Development, is facing a major challenge, which includes risks associated with the construction company's share capital increase.