HFSF will not accept bids below €7.55/share in NBG equity offering
Demand for the 10% stake in National Bank of Greece was covered approximately nine times on Monday, the first day that the offer book was opened, with the disposal of 91,471,515 shares out of the total of 168.2 million shares controlled by the public.
Bank bailout fund HFSF has said that it will not accept bids below 7.55 euros per share in an equity offering of National Bank of Greece, citing strong demand by investors.
HFSF is selling a 10% stake in National Bank, the country’s second largest bank by market value, through a book-building process and a public offer in Athens which ended at 3 p.m.
The bailout fund earlier narrowed the price range for the share offering to between €7.40 and 7.65 per share.
The offering was oversubscribed by more than 11 times by late Tuesday, a source with knowledge of the matter told Reuters. [Reuters]
