National Bank stake sale meets strong demand

Demand for a 10% stake sale in the National Bank of Greece (NBG) by the country's bank bailout fund was oversubscribed by six times on Monday, in the first day of a book-building process which ends later this week, two sources told Reuters.

With the sale, the country will conclude the reprivatization of its banks, 12 years after stepping in to bail them out during a debt crisis that nearly drove the country out of the euro zone.

"There is strong demand from investors," an official with knowledge of the matter told Reuters.

The Hellenic Financial Stability Fund has set the price range for the offering at 7.30-7.95 euros. The book will remain open until October 2.

A second official confirmed the oversubscription. The shares of the bank were trading at €7.93 on Monday, gaining 1%.

The bailout fund (HFSF) holds an 18.4% stake in NBG, the country's...