Piraeus Port Authority S.A. Offering Memorandum
PIRAEUS PORT AUTHORITY S.A. OFFERING MEMORANDUM FOR THE PUBLIC OFFERING OF EXISTING SHARES OWNED BY THE GREEK STATE AND THE ADMISSION OF THE COMPANY'S SHARES TO THE MAIN MARKET OF THE ATHENS EXCHANGE THE BOARDS OF DIRECTORS OF THE ATHENS EXCHANGE AND THE HELLENIC CAPITAL MARKETS COMMISSION HAVE APPROVED THIS MEMORANDUM SOLELY AS TO THE SUFFICIENCY OF INVESTOR DISCLOSURE, AS PER THE PROVISIONS OF PRESIDENTIAL DECREE 348/1985. For the purpose of exercise by bearers of Hellenic Republic privatization certificates due 2003, listed on the Luxemburg Stock Exchange, of rights of exchange of such certificates for shares of PPA S.A., an offering memorandum has been prepared in English (not submitted to the Capital Markets Commission for approval), which provides equivalent information to investors. ADVISOR LEAD ARRANGERS OTHER UNDERWRITERS EFG TELESIS FINANCE, ALPHA FINANCE SECURITIES, NATIONAL BANK OF GREECE, INVESTMENT BANK, PIRAEUS BANK, GENERAL BANK OF GREECE, BANK OF ATTICA, MARFIN BANK, PROTON INVESTMENT BANK, BANK OF CYPRUS LTD., OMEGA BANK, HELLENIC BANK LTD. EFG EUROBANK SECURITIES, NATIONAL SECURITIES, SIGMA SECURITIES, P&K CAPITAL ISC, N.D. DEVLETOGLOU SECURITIES, EUROCORP ISC, ARTION SECURITIES, EGNATIA SECURITIES, PEGASSUS SECURITIES, ASPIS SECURITIES, LAIKI ATTALOS SECURITIES. ATHENS, July 2003 Admission of PPA S.A. Shares to the Main Market of the Athens Exchange 1. Important Notes - Investment Risk Factors.......................................................................................... 6 1.1 Important Notes............................................................................................................................ 6 1.1.1 Background – Transformation into a Société Anonyme ...................................................... 7 1.1.2 Differences between the special provisions governing the operation of PPA SA as a Société Anonyme and the corresponding provisions of Law 2190/1920............................................. 8 1.1.3 Accounting books and financial statements of the Company ...........................................
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