Greece begins sale of 10% National Bank stake

Greece's bank bailout fund HFSF began the process of selling a 10% stake in National Bank of Greece on Monday, marking the end of re-privatization 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 October 2, HFSF added.

With the sale, Greece will conclude the re-privatization 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. ...