ADME raises €530 million in capital increase amid strong foreign demand

The Hellenic Transmission System Operator (ADME) completed a €530 million capital increase, launching a public offering on 16‑18 June. The issue was heavily oversubscribed – up to 14 times the target amount when excluding the state and strategic investors – attracting €3.5 billion of orders, of which €2.8 billion came from foreign institutional investors.

Capital World Investors, the investment arm of Capital Group, acted as cornerstone investor, committing €70 million (about 4 % of the total raise). New shares were priced at €4.05 each (maximum €4.17), and offers below €4.05 were excluded from allocation. Existing shareholders recorded on 15 June will receive preferential treatment to maintain their ownership percentage.

The Greek state, using funds from the EU Recovery and Resilience Facility, kept its participation unchanged, while the European Commission approved the state’s funding. Trading of the new shares is scheduled to begin on the Athens Stock Exchange on 24 June. The proceeds will fund ADME’s €6 billion investment plan for 2026‑2029, focusing on new interconnections in the Dodecanese, the North Aegean islands, and the second Greece‑Italy link (GRITA 2).