CrediaBank: thrivest places 16.7% stake with institutional investors

The transaction was executed at a price of €0.90 per share, generating proceeds of approximately €300 million for the sellers.

The deal significantly reshapes the bank’s shareholder structure. With a 29.36% stake, the Hellenic Corporation of Assets and Participations (HCAP) has become CrediaBank’s largest shareholder, while Thrivest has been reduced to second place with an ownership interest of approximately 24%. According to the post-capital increase shareholding structure, the remainder of the bank’s equity is held by free-float investors and institutional portfolios, which collectively now own nearly 47% of CrediaBank.

Market sources indicate that funds managed by BlackRock acquired approximately 3% of CrediaBank, making the U.S. asset management giant one of the largest new investors participating in the placement.

The placement was completed only a few months after CrediaBank’s successful capital increase, which was fully subscribed on the first day of the book-building process. The bank raised €300 million at an issue price of €0.80 per share to finance its growth strategy in Greece and Malta.

The placement price of €0.90 per share represents a 12.5% premium to the capital increase price, enabling Thrivest to monetize part of its stake at a valuation above that of the recent recapitalization.

According to market sources, part of the approximately €300 million in proceeds received by Thrivest will be invested in Aktor’s upcoming share capital increase, which is scheduled to commence on 21 July. Dimitris Bakos and Giannis Kaymenakis are expected to participate through Winex, further strengthening their presence in the construction sector.