In the framework of the government`s wide-ranging privatisation scheme, state-owned Hellenic Tourism Real Estate SA is set to seek entry into the…
In the framework of the government`s wide-ranging privatisation scheme, state-owned Hellenic Tourism Real Estate SA is set to seek entry into the Athens Stock Exchange by as early as 2002, company officials said at a news conference on July 19th. The company is a subsidiary of the Greek National Tourism Organisation. Managing director Anastasios Homenidis told the press conference that already Telesis has been chosen as adviser in its initial public offer (IPO), the prospectus of which is to be submitted to bourse authorities late this year, he added. Earlier last week Hellenic Tourism Real Estate sold three-year convertible privatisation bonds worth 800 million euros, representing 20-25 percent of its capital. The paper is convertible into shares of the company or its subsidiaries, the Casino Resort Mon Parnes SA, which is also slated for Athens bourse listing. Homenidis said that talks were being held with casino operators abroad to sound out any interest in the casino`s privatisation.
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