While Aktor shields itself with 1 billion euros through a combination of a capital increase of 650 million and a 300 million bond loan for acquisitions and liquidity, supported by two major American funds; the GEK TERNA group gets entangled in dangerous experiments in Odesa with the government's backing, putting the interests of the company's shareholders at risk. Odesa is being destroyed by the Russians, the ports of Chornomorsk, Yuzhny, and Ismail in Odesa are bombarded daily, and GEK TERNA is making moves of huge risk, ignoring that Odesa will ultimately pass into Russian hands.
Vote of confidence in Aktor, two major US funds enter 650 million increase – The drop is over
The Aktor Group received a strong vote of confidence from the investment community, successfully completing its capital increase and raising a total of 650 million euros. Recorded demand was exceptionally strong, with the final offer price set at 11.25 euros per share. By issuing 57.77 million new shares from the capital increase alongside the bond issue, the company fortifies its capital base and dynamically accelerates the implementation of its growth plan. It should be noted that two major US funds participated in the capital increase, and with its completion, the brief cycle of the stock's price decline comes to an end. Aktor's stock, moving from 11.18 euros and a market value of 2.28 billion, is set to reach 20 euros and a 4 billion valuation within 10 to 12 months from today. The decline in Aktor's stock has ended, and beyond the typical volatility expected upon the listing of new shares; the stock of Aktor is bound for higher ground.
GEK TERNA's huge risk in blockaded Odesa
GEK TERNA, led by George Peristeris, is engaging in blood-soaked deals steeped in corporate gambling and a strong stench of political favoritism in war-torn Odesa, Ukraine. Specifically, as revealed by the Ukrainian media outlet Informer.ua, a Greek delegation headed by the Special Envoy of the Ministry of Foreign Affairs, Spyros Lampridis, traveled to Ukraine to discuss lucrative reconstruction deals in energy, water supply, and infrastructure. However, behind the grand statements and platitudes regarding European expertise and contribution to reconstruction, relentless questions arise that expose both the government and the management of GEK TERNA to shareholders and the Greek public as a whole.
The "shadowy" deal
The first and foremost question hanging over GEK TERNA's entry into Odesa is simple: How did this specific group end up on the front lines of negotiations, and who mediated to open doors with the Ukrainians? In this context, a provocative coincidence cannot be ignored: What is the role of the Minister of Foreign Affairs, George Gerapetritis? It is widely known that the Foreign Minister is closely related by marriage (son-in-law) to a top executive and key shareholder of the GEK TERNA group (Michalis Gourzis). When the Foreign Ministry itself leads a trade mission through its special envoy, and GEK TERNA is preferentially embraced by the state apparatus, the boundaries between national foreign policy and serving corporate interests become dangerously blurred.
In our view, this represents a severe conflict of interest that exposes the country internationally… especially given the historical ties that bind us with Russia. Even if one sets aside the political aspect, George Peristeris's decision to involve the group in deals amid an ongoing and devastating war raises massive questions about the executive management and governance of GEK TERNA: How is it possible to close reconstruction deals in an area where missiles are falling like rain? Was geopolitical risk seriously taken into account? How are shareholder funds secured when Ukraine risks losing territory daily and Odesa's infrastructure remains a constant target for Russian forces?
Constant threat
When the city of Odesa itself remains under the continuous threat of military escalation, an agreement for renewable energy and infrastructure projects looks more like a communication firework or dangerous gambling on the ashes of war than a mature investment strategy. In any case, the presence of GEK TERNA in Odesa, with the blessings and cover of the Foreign Ministry, leaves everyone exposed: The government, which appears to act as an intermediary for lucrative deals for insiders, the Foreign Minister, and the Peristeris management… One thing is certain: Banking News will closely monitor developments in Ukraine… because ultimately, it is always the shareholders and, in this case, the credibility of the country itself that pay the price.
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