The listed company is proceeding with the issuance of a bond loan, aiming to raise up to €136.2 million (net of issuance expenses estimated at up to €3.8 million). The objective is to support the Group’s growth over the next two years by financing its business operations and strengthening its capital structure.
The majority of the proceeds—up to €111.9 million—will be allocated during the period from 16 December 2025 to 15 December 2027 to fund the business activities of the Issuer and its subsidiaries. These funds will be deployed, through capital increases or debt financing, to Group companies and joint ventures, with the aim of executing existing and new infrastructure projects, expanding the concessions portfolio, strengthening the renewable energy division, enhancing the Group’s presence in the facilities management sector, and supporting the development of major real estate projects.
A central pillar of the capital allocation strategy is the construction segment, which remains the Group’s core business and accounted for 94.3% of total revenue in 2024. The bond proceeds will support a broad range of infrastructure projects—motorways, airports, ports, tunnels, energy facilities, water supply and irrigation systems, waste management infrastructure, circular economy projects, and social facilities. AKTOR Concessions, one of the leading concession operators in Greece, already holds significant stakes in major motorway projects such as Moreas, Olympia Odos, Aegean Motorway, and the Rio–Antirrio Bridge, as well as in new developments including Pylia Odos and Pasiphae Odos. The strengthened investment capacity will enable the company to pursue new tenders competitively and to further expand its concession portfolio.
Significant emphasis will also be placed on expanding the facilities management business. The Group has acquired a 55% stake in the Oceanic Group, enhancing its position in specialized facility maintenance and operation services. Its strong portfolio of contracts—ranging from municipalities and shopping centers to major multinational corporations and financial institutions in Greece, as well as substantial projects in the Middle East such as the Doha metro and tunnel network—offers considerable growth potential and can attract additional capital from the bond issue.
A substantial portion of the investment program also focuses on real estate development. The Group aims to deliver high-quality residential and hospitality properties, develop green office buildings and commercial spaces, and repurpose existing buildings according to modern development standards. With limited supply in the housing market, special emphasis is placed on social housing projects. Staff residences in Mykonos, the redevelopment of the “Apanema Resort,” and new urban developments such as the project in Nea Smyrni are indicative of this direction. Furthermore, expansion into the food and beverage sector—through the acquisition of a 51% stake in six companies from Nostira—enhances the Group’s footprint in high value-added activities.
A meaningful share of the proceeds will also support the Group’s Renewable Energy Sources (RES) business. With a project pipeline of approximately 2.4 GW—1.35 GW in RES and 1 GW in battery energy storage—the Group is positioned to capitalize on the opportunities arising from the energy transition and to strengthen its presence in a sector of increasing demand and strategic importance.
The second category of fund allocation concerns up to €24.3 million for the repayment of debt of the Issuer or its subsidiaries. Of this amount, up to €20 million will be used to repay existing borrowings provided by the Coordinating Lead Underwriter, thereby improving the Group’s financial position and reducing its cost of debt. This will enhance the Group’s liquidity and provide greater flexibility for future strategic initiatives.
