Greek banks pass into private hands
By Irini Sakellari
Greek banks pass in the hands of private individuals as is the case with all modern and developed economies. Therefore, the Hellenic Financial Stability Fund (HFSF) completed the sale of 9% of Alpha Bank, while the public offering for National Bank starts on Tuesday.
More specifically, the Hellenic Financial Stability Fund announced the approval of the offering of a 20% equity stake in National Bank of Greece to the public in Greece, with the upsize option of up to 182,943,031 shares at a price of 5-5.44 euros per share.
"We are continuing the Fund's divestment program in a dynamic and coordinated manner with the successful completion of the sale of our entire stake in Alpha Bank, to one of the leading institutional strategic investors in Europe. We are proceeding, in parallel, with the disposal of part of our equity participation in National Bank of Greece, which is expected to be completed on November 17. Our main mission at HFSF is to actively support Greek banks and the national economy, enhancing competitiveness and ensuring the stability of the country's financial system," the CEO of HFSF, Ilias Xirouhakis, stated.
In any case, the privatization of Greek banks is proceeding at a rapid pace and will be completed as far as systemic banks are concerned in the first half of next year, based on reliable estimates.
According to an announcement, the bank is not offering any shares in the offering procedure and will not receive any proceeds from the sale of the offer shares, the net proceeds of which will be received by the selling shareholder.
The electronic book building (EBB) shall remain open during the Greek Public Offering period (i.e. from 14 November 2023 until 16 November 2023).
The Offer Shares will be offered: (a) in Greece, to retail and qualified investors, and (b) outside Greece, pursuant to private placements to persons reasonably believed to be qualified institutional buyers in the United States of America and certain other institutional investors outside the United States.
（Editor:Wang Su）
