The Hellenic Financial Stability Fund (HFSF) issued an invitation for the public offering of a 10% share in the National Bank. The price range of the placement is between 7.3 and 7.95 euros per offer share, the HFSF said in an announcement.
The public offering period in Greece will last three days and it will be carried out through electronic book building, starting at 10:00 (Greek time) on September 3 and closing at 16:00 16:00 (Greek time) on October 2.
According to the announcement: “On 28 September 2024, the board of directors of the Hellenic Financial Stability Fund approved, inter alia, the disposal of a stake of 10% shareholding in National Bank of Greece S.A., corresponding to 91,471,515 existing common registered dematerialized voting shares, listed on the Regulated Market of the Athens Stock Exchange (ATHEX) with a nominal value of 1.00 euro each in the share capital of NBG, at an offering price ranging between 7.30 and 7.95 euros per offer share.”
The shares will be offered to retail or qualified investors in Greece and to persons reasonably believed to be qualified institutional buyers in the United States and selected institutional investors outside of Greece.
The offer price for each offer share, which may not be lower than 7.30 euros or higher than 7.95 euros per offer share, and which will be the same in the Greek public offering and the international offering, is expected to be determined pursuant to a resolution of the board of directors of the selling shareholder after the close of the period of the bookbuilding process.
HFSF also said that it can “at its sole and absolute discretion, upon resolutions of its Board of Directors, decide to (in no particular order of priority) determine and publicly announce a narrower range within the price range and/or determine a price point guidance.”
