Greece's National Bank stake sale oversubscribed -source (updated)

National Bank of Greece

16/11/2023 13:14

(Adds detail)
       ATHENS, Nov 16 (Reuters) - The sale of a 22% stake in
National Bank of Greece (NBG) held by the country's HFSF bank
bailout fund was oversubscribed by about seven times by 1230 GMT
on Thursday, a source involved in the process told Reuters.
    The book-building process is expected to end later today.
    The stake in NBG, Greece's second-largest bank by market
value, is being sold via a public offering and a private
placement from Nov. 14-16 at between 5 euros and 5.44 euros per
share. 
    Earlier on Thursday the HFSF said that orders at less than
5.30 euros would "most likely not be considered" for allocation,
having announced that it planned to increase the stake on offer
to about 22% from 20% on the back of strong demand.

 (Reporting by Lefteris Papadimas
Editing by David Goodman)
 ((renee.maltezou@thomsonreuters.com; +30 210 3376439; Reuters
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