According to the company, a total of 6,500,000 shares (approximately 4.4% of the company’s outstanding shares) were transferred off-market at a price of €2.00 per share. This transaction was executed at a 5.4% discount to the closing price (€2.115) and a 5.8% premium to the average price over the last quarter.
Among the company’s major shareholders, the indirect stake held by the Chairman of the Board, Mr. Christos Ioannou, decreased to 21.6% from 23.6%, while the total direct and indirect stake held by the CEO, Mr. Konstantinos Mitsalis, reduced to 16% from 17.6%.
The transaction, which was structured and executed by Euroxx Securities, aims to increase the company’s free float and enhance liquidity for both retail and institutional investors. The placement comes at a time of optimistic expectations from the investment community regarding a significant long-term improvement in the financial performance of AVAX Group.
