Greek Market Watch: T-bills auction, Attica Bank, GEK TERNA/TERNA Energy, Aegean Airlines/Autohellas

OPTIMA

 We expect ATHEX to move higher, with GEKTERNA in focus today. 

Today’s Headlines

·         6-month T-bill yield down

·         Attica Bank exercise period of warrants ends today

·         Closing of sale of TERNA ENERGY to Masdar today

·         Autohellas increased its stake in Aegean Airlines

 Macro Headlines 

6-month T-bill yield down

The Greek State raised EUR 600m yesterday from the issuance of 26-week T-bills. In more detail, the total amount auctioned was EUR 500m, while total bids reached EUR 944m (1.89x coverage ratio vs. 2.12x in the previous auction) for an interest rate of 2.46% (vs. 2.71% in the previous auction). 

Company Headlines 

Attica Bank exercise period of warrants ends today

According to the SCI timetable, the exercise period for the 359,469,360 warrants will end today, whilst the trading of the shares resulted from the exercise of the warrants will commence on Wednesday 04 December. Recall that each warrant entitles the warrant holder to acquire three and a half (3.5) new common shares at EUR 0.05 per new share.  

Closing of sale of TERNA ENERGY to Masdar today

GEKTERNA announced that the closing of the sale transaction of TERNA ENERGY to Masdar will take place today. As a reminder, a public offer to all remaining shareholders will follow at EUR 20/share. 

Autohellas increased its stake in Aegean Airlines

The company announced that Autohellas a company linked with the Chairman of the BoD of the company bought on 26 November 15,000 shares for a total consideration of EUR 145,974. 

Calendar of Events

Macros

28/11/24 | Building Activity AUG (ELSTAT) & Economic Sentiment Indicator NOV

29/11/24 | Turnover Index in Retail Trade SEP (ELSTAT), Producer Price Index in Industry OCT (ELSTAT) & Unemployment Rate OCT (ELSTAT)

02/12/24 | S&P Global Greece Manufacturing PMI NOV (09:00 UTC)

06/12/24 | 3Q:24 GDP (provisional data) (ELSTAT)

06/12/24 | Scope Ratings – Greek sovereign credit review

3Q/9M24 Results Release

29/11/24 | GEK TERNA (Bef-mkt), TERNA Energy (Bef-mkt)

12/12/24 | Attica Bank

EGM / AGM

09/12/24 | Alumil (EGM)

10/12/24 | Cairo Mezz Plc (EGM)

12/12/24 | Ble Kedros (EGM), Attica Holdings (EGM)

13/12/24 | Real Consulting (EGM)

16/12/24 | AS Company (EGM)

24/12/24 | MED (EGM)

Ex-Dividend

02/12/24 | CNL Capital (interim dividend EUR 0.25)

16/12/24 | Trade Estates (interim dividend EUR 0.047706)

23/12/24 | Motor Oil (interim dividend EUR 0.30)

20/01/25 | HELLENiQ ENERGY (interim dividend EUR 0.20)

23/01/25 | Thrace Plastics (interim dividend EUR 0.0685848289)

Warrants – Attica Bank

08/11/24-28/11/24 | Exercise Period

04/12/24 | Commencement of trading of the warrant exercise shares

Initiation of trading of new shares

02/12/24 | EVROPI Holdings (ex. Kloukinas-Lappas) (70.36m shares from merger with Intracom Properties)

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