OTE, the Greek national carrier, has priced and sold shares in its initial public offering for Cosmote, its mobile arm, at the lower end of the indicative range, raising around €300m ($265m) less than it had originally hoped.

Cosmote, which is to be listed on the Athens Stock Exchange, sold its shares at Dr3,200 (€9.34), just above the bottom of the indicated range ahead of the share sale of Dr3,120 to Dr3,494.