ATHENS Jan 24 (Reuters) - Greece has approved the prospectus for the initial public offering (IPO) for a 30% stake in Athens International Airport, its Capital Markets Commission said on Wednesday.
The country is selling 30% of its biggest airport, or 90 million shares, through a combined offering to Greek and foreign investors and existing shareholders in its biggest IPO after its 2010-2018 debt crisis.
Athens International Airport, the operator of Greece's biggest airport, has set the price range for its planned initial public offering (IPO) at 7.0 to 8.2 euros ($7.62 to $8.92) per share.
The IPO will run from Jan. 25 to Feb. 1, the country's privatisation agency said, and the final pricing will be determined following the six-day book-building period.
The listing on the Athens Stock Exchange is expected to take place in February, subject to regulatory approvals and after conclusion of the offering, and the company's free float is expected to be about 19%.
AviAlliance, which holds a 40% stake in the airport, will have the right to buy a further 10% of the lucrative asset at a premium over the IPO price.
Greece is heavily reliant on tourism and Athens airport handled more than 28 million passengers last year, accounting for 35% of passenger traffic through all the nation's airports. ($1 = 0.9189 euro) (Reporting by Lefteris Papadimas and Angeliki Koutantou, additional reporting Renee Maltezou; Editing by Jane Merriman)
