Strong interest was expressed in National Bank’s placement as it has been eleven times oversubscribed.
Reuters spoke of a milestone development, adding that with the sale of a 10% stake, Greece completes the re-privatization of the systemic banks, 12 years after the public intervened to save them, at the peak of the financial and debt crisis, which almost led the country outside the Eurozone.
The Hellenic Financial Stability Fund set the offer price range from 7.3 to 7.95 euros. The book will remain open until Wednesday, Wednesday, October 2.
The HFSF holds an 18.4% stake in National Bank of Greece, the second largest bank in Greece by capitalization.
The Fund, which had made capital injections of around 50 billion euros in the country’s four systemic banks (acquiring an equity stake), last year began the disinvestment of the stakes in Eurobank, Alpha Bank and Piraeus Bank.
