The Hellenic Financial Stability Fund (FHEF) has launched a call for a public offering of a 10% stake in the National Bank. The price range for the placement is between 7.3 and 7.95 euros per share offered, the FHEF said in a statement.
The public offering period in Greece will last three days and will be carried out through the construction of electronic books, starting at 10:00 am (Greek time) on September 3rd and ending at 4:00 pm (Greek time) on October 2nd.
According to the announcement: “On September 28, 2024, the board of directors of the Hellenic Financial Stability Fund approved, among other things, the disposal of a 10% stake in the National Bank of Greece SA, corresponding to 91,471,515 ordinary votes registered dematerialized existing shares, listed on the Regulated Market of the Athens Stock Exchange (ATHEX) with a nominal value of 1.00 euros each, in the share capital of NBG, at an offer price varying between 7.30 and 7, 95 euros per share offered.”
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 of each share on offer, which cannot be less than 7.30 euros nor more than 7.95 euros per share on offer, and which will be the same in the Greek public offer and in the international offer, must be determined in accordance with in accordance with a resolution of the board of directors of the disposing shareholder after the end of the bookbuilding process period.
The HFSF also said that it may “in its sole and absolute discretion, upon deliberation of its Board of Directors, decide (in no particular order of priority) to determine and publicly announce a narrower range within the price range and/or determine a point price guidance.”