ForthNet’s shareholders sell 21% stake in private placement

15 Jan 2007

The three largest shareholders of Greek fixed line operator ForthNet, Novator Equities, Cycladic Catalyst Master Fund and the Foundation for Research and Technology, have sold 8.1 million shares, or 21% of total share capital, to domestic and overseas investors. The private placement, brokered by Merrill Lynch International and Alpha Finance, raised over EUR82.6 million (USD107 million). Prior to the sale, ForthNet was owned by Novator Equities (38.65%), Cycladic Catalyst Master Fund (11.94%), the Foundation for Research and Technology (11.7%). Other shareholders include Dutch firm Talpa Beheer (5.82%), private and institutional investors, company employees and associates.

Greece, Forthnet (Nova)