Terna Energy is close to this year’s highs of 19.7 euros ahead of the completion of the sale to Masdar.
The company’s shares listed on the Athens Stock Exchange rose by more than 19.5 euros, heading for the 4th consecutive positive session, but also the 6th in the last seven days.
The upward movement is actually accompanied by a satisfying spin.
Public offering
Meanwhile, eyes are on the imminent sale of the majority stake to Masdar.
This is the necessary step for Masdar’s public offering to minority shareholders to proceed, a move that will transfer the entire stake in the company into Arab hands.
The price was set at 20 euros/share. That is why we have seen in recent days that there are buyers who want to take advantage of this small deviation between the current price and the public offering price.
The relevant procedures are expected to “wind up” in the autumn, with Terna Energy’s share being excluded from the board of the Athens Stock Exchange, possibly in early 2025.
It should be noted that Terna Energy’s performance exceeds 22% in 2024, while the accumulated increase since the year’s lows of 14.6 euros (January 31) reaches +33%.
Today the market value of the company, of which GEK TERNA remains the main shareholder with 37.9% (11.05% is held by George Peristeris), is estimated at 2.3 billion euros.