Greece begins sale of 10% National Bank stake (updated)

Piraeus Bank SA

30/09/2024 08:06

(Adds details from HFSF, background from paragraph 3)
       ATHENS, Sept 30 (Reuters) - Greece's bank bailout fund
HFSF began the process of selling a 10% stake in National Bank
of Greece  NBGr.AT  on Monday, marking the end of
re-privatisation of Greek lenders.
    The offer price range for National Bank (NBG) was set at
between 7.3-7.95 euros, the fund said in a statement.
    The book for the public offering to foreign and domestic
investors will be open until Oct. 2, HFSF added.
    With the sale, Greece will conclude the re-privatisation of
its banks, which were bailed out during a debt crisis that
nearly drove the country out of the euro zone.
    HFSF holds an 18.4% stake in NBG, Greece's second largest
lender by market value. The remainder will be transferred to
Greece's sovereign wealth fund.
     The fund sold its holdings in Eurobank EURBr.AT, Alpha Bank
ACBr.AT, Piraeus Bank BOPr.AT and part of its stake in NBG
earlier this year and late in 2023. 

 (Reporting by Lefteris Papadimas; Editing by Alexander Smith)
 ((lefteris.papadimas@thomsonreuters.com; +30 6944 248134;
Reuters Messaging: lefteris.papadimas.reuters.com@reuters.net))