The success of the sale of the 27% share of the HFSF in Piraeus Bank can now be recorded as a reference point for both Greek and European data.
The total amount collected in the international and Greek book amounted to a total of 10.7 billion euros and the share sale price was set at 4 euros, at the top end of the original pricing.
The Greek economy not only demonstrates the dynamics it is developing, but also its return in an extremely resounding way to the center of international investment interest since it recorded the most successful sale of shares through a Public Offering.
At the same time, the largest privatization in history is recorded through a secondary placement with the amount of the price reaching 1.35 billion euros.
The positive messages and auspicious predictions for the outcome of the project had become visible from the beginning of the process, but even the most optimistic estimates could not expect the final result achieved.
Amid an unprecedented demand manifested since the opening of the book building process and the issue being covered within a few minutes (just 6′) the omens were positive for an oversubscription which eventually exceeded all expectations (eight times).
The success of the sale of 27% of Piraeus Bank’s shares to foreign and Greek investors is unprecedented, National Economy and Finance Minister Kostis Hatzidakis said after the sale of Piraeus Bank’s shares was completed.
“It is not just the fact it was oversubscribed by eight times. It is also the prices offered. The sale price of the shares was set at levels higher than the closing price of the Athens Stock Exchange last Friday, before the start of the process. This is extremely rare worldwide, as in such cases of mass distribution of shares the prices are almost always set at a discount in favour of the buyers,” the minister added.
