Viohalco S.A. (“Viohalco”) announced on April 27th the successful private placement of 25,000,000 shares in ElvalHalcor S.A. (“ElvalHalcor” or the “Company”) via an accelerated bookbuilding process at a price of €2 per share. Viohalco’s gross proceeds from the transaction amount to €50,000,000 while the placement represented 6.66% of the Company’s total share capital. AXIA Ventures Group (“AXIA”) acted as Joint Global Coordinator and Joint Bookrunner in relation to this transaction.
Viohalco is the largest industrial group in Greece. Its subsidiaries specialize in the manufacturing of aluminum, copper, cables, steel and steel pipe products collectively generating annual revenues of EUR 3.85 billion. The company maintains production facilities in Greece, Bulgaria, Romania, Russia, North Macedonia, Turkey, the Netherlands and the United Kingdom while it also operates dedicated technology and R&D segments. Additionally, Viohalco and its companies own real estate investment properties, mainly in Greece.
ElvalHalcor is a global aluminum and copper manufacturing industrial player that holds significant market share in niche metal markets around the world. The Company exports its products to more than 100 countries, which accounts for 91% of its turnover and operates 17 state of the art production facilities. At the same time, ElvalHalcor pays special attention to its sustainable operation by producing low carbon circular products, increasing its recycling capacity, recovering and reusing rolling oil and minimizing land field disposal of wastes.
As a result of this transaction, Viohalco will own 84.78% of ElvalHalcor, increasing its free float to 15.22% thus meeting the FTSE/ATHEX Large Cap index requirements for potential inclusion. The book got covered in just a few hours attracting interest from both international institutional investors and local asset managers.
Mr. Thanos Adamantopoulos, Managing Director Capital Markets & Head of Client Coverage at AXIA stated: “Bringing together international institutional capital with Greek investment opportunities is the core of AXIA’s modus operandi. The successful placement of ElvalHalcor’s shares to institutional investors is a testament of our efforts and of the interest of institutional capital to participate in the leading Greek corporates. We believe that this transaction will raise the profile and the awareness of a real blue-chip company in the investment community and we are very pleased to have participated in introducing ElvalHalcor, a truly international company with great prospects to new institutional investors”.