The Board of Directors of the Hellenic Capital Market Commission has approved the prospectus of Aktor S.A. Holdings, Technical and Energy Projects for the public offering and listing of up to 140,000 dematerialised, common, registered bonds in the fixed-income category of the Athens Stock Exchange.
Aktor has outlined how it plans to use up to €136.2 million in net proceeds expected from the bond issue, after issuance expenses of up to €3.8 million. The company intends to channel the funds into two main areas: supporting its growth strategy and reducing debt, with a project horizon running through December 2027.
Management expects to allocate up to €111.9 million between December 2025 and December 2027 to finance both existing and new activities across the parent company, its subsidiaries, and affiliated entities or joint ventures.
The capital will be deployed through equity injections or lending and will support a wide range of infrastructure initiatives—such as concessions and public–private partnerships—alongside investments in real estate development and management, renewable energy with a focus on storage, facilities management, and industrial projects. The company’s investment pipeline includes highways, airports, ports, tunnels, power generation units, water and sewage systems, irrigation works, waste management facilities, circular economy ventures, and social infrastructure. Funds may also be used for acquisitions or to secure new equity stakes as part of a broader effort to expand the Group’s footprint. Any unused amount from this category may be reallocated to debt-related purposes at the discretion of the Board, up until the maturity of the bond loan.
The second major funding component involves up to €24.3 million dedicated to debt repayment across the issuer and its subsidiaries during the same period. Of this, as much as €20 million will be used to repay an outstanding loan provided by the Coordinating Lead Underwriter under an open credit agreement dating back to March 2008, which originally totalled €101 million and carried a remaining balance of €20 million as of 30 June 2025.
According to the prospectus, total issuance costs for the bond loan amount to up to €3.8 million before VAT, or €4.4 million including VAT. These expenses cover underwriting fees, advisory compensation, financial and legal due-diligence costs, printing and distribution of the prospectus, public notices, and the regulatory fee owed to the Hellenic Capital Market Commission.
