Today we will focus on three issues of business interest.
PPC share capital increase oversubscribed 3 times or 12 billion euros
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Offers for the 4 billion euro share capital increase of PPC have exceeded 12 billion, oversubscribing the target 3 times even before the process officially begins, which is scheduled for May 19, 2026. The Greek State will maintain its participation percentage at 33.4%, participating with approximately 1.3 billion euros, while the American CVC Capital has expressed intent to participate with up to 1.2 billion euros. Already, 2.5 billion of the 4 billion has been pre-covered, leaving another 1.5 billion, so there is naturally significant interest. This capital increase carries no risk; on the contrary, it has good prospects as it aims to evolve PPC into a major regional player, it was also made clear that PPC will not acquire a mobile telephony company. Management reiterated the forecast for adjusted EBITDA of 2.4 billion euros in 2026 and net profits of 700 million euros. Regarding dividend policy, PPC confirmed the target for a dividend of 0.80 euros per share in 2026, a 33% increase compared to 0.60 euros in 2025.
Entry of GEK TERNA into MSCI standard brings opening of short positions
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With a capitalization of 4.42 billion and a stock price of 42.76 euros, GEK TERNA was reasonably included in the MSCI standard due, evidently, to a valuation that inflated extremely following the notorious report by the Spanish Santander Bank, which provocatively stated that GEK TERNA's stock is worth 49 euros per share. It is obvious that the valuation of GEK TERNA is not justified, and there are many shadows despite it monopolizing concessions and motorway tolls in Greece. However, the new information being added is that short positions will soon open; at least one British fund obviously knows or suspects something. Much will come out about GEK TERNA, sometimes all that glitters is not gold.
Something is coming to Metlen
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Metlen has reached 37.40 euros with a market value of 5.34 billion. BN (bankingnews) had mentioned that now, as various shorts are emerging, it is time for purchases with a target of 38 euros initially and subsequently 42 euros. Since then, the stock moved from 34 euros and reached 38 euros. The new information is that Metlen is preparing something that will cause a surprise; in fact, sources at an investment bank in London state the time of crisis has passed and the time of surprises is arriving at speed. We should expect good news from Metlen.
www.bankingnews.gr
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