Hellenic Corporation of Assets & Participations S.A. (HCAP) and one of its subsidiaries may lower their combined 51% shareholding in Public Power Corporation S.A. (ATSE:PPC) (PPC SA), they said on September 23, 2021. Currently, Hellenic Corporation of Assets and Participations (HCAP) owns 34% of PPC, while its investment advisory arm Hellenic Republic Asset Development Fund S.A. (HRADF), which manages the privatisation of public assets in the country, holds 17%. In a press release indicating their support for a proposed share capital increase by PPC, the funds said they are considering a plan to trim their interest stakes in the utility to a combined blocking minority stake. The goal of the proposal is to raise both the free float and private participation to create long-term value for the company and its investors. The plan would be subject to market conditions, the state-backed funds noted.