Greece concludes post-crisis bank privatizations with 10% stake sale in National Bank

Greece concluded on Thursday the re-privatization of its lenders with the sale of a 10% stake in National Bank (NBG) amid strong demand from investors, the bank bailout fund said.

The sale raised 690 million euros ($760.93 million), which will be used to help Greece reduce its pile of public debt, the eurozone's biggest as a percentage of economic output.

The Greek state-controlled bank bailout fund HFSF sold 91.4 million shares in National Bank, Greece's second-largest by market value, for €7.55 per share, through a book-building process and a public offer in Greece which

The valuation was at the middle of the initial pricing indication of €7.3-7.95 a share, the fund said in a press release.

"There was strong demand from foreign and domestic investors with the offering oversubscribed by 12 times," an official involved in the process told Reuters on...