The announcement by the Hellenic Financial Stability Fund (FHEF) for its further divestment from the National Bank is expected on Monday.
The bookbuilding process should start on the same day and last until October 2nd. It will involve the sale of 10% of the shares held by FEFG in the National Bank, of the approximately 18.3% it currently holds.
According to sources, 15-20% will be allocated to retail investors and the rest to institutional and long-term investors, with the price determined based on the bookbuilding process.
The final percentage allocated to the Greek public will remain open, leaving the possibility of a higher percentage in the final procedure.
The previous placement took place in November 2023 and was completed with great success with the eventual sale of 22% held by FEFG to Banco Nacional.
The transaction attracted very strong interest from investors in Greece and abroad, with total demand exceeding the number of shares offered by 8 times.
After a year, the National Bank showed a further increase in its financial numbers, with profits after tax totaling €670 million in the first half of 2024 and group-wide organic profits after tax totaling €646 million, marking an increase of 26 %. and 27%, respectively, on an annual basis.
The CEO of the National Bank, Pavlos Mylonas, said at the last annual general meeting, which approved the distribution of dividends, for the first time after 16 years, “2023 was a landmark year for the National Bank, with a practical and broad recognition of the effort of last 5 years, especially by shareholders, supervisors, rating agencies, customers and also society in general.”
