Piraeus Bank’s books will open this morning at 10am with the Hellenic Financial Stability Fund (HFSF) placing its 27% stake in the bank, which is expected to draw whopping 8-10 billion in offers.
The move is significant because it means the bank will finally return to the control of the private sector after it was granted emergency aid stemming from the 2008 sovereign debt crisis.
The HFSF approved the amount of shares to be offered as well as the price of shares in a meeting over the weekend.
In detail, 22-27% of shares will be offered at a price range of 3.7-4 euros, which is at a discount of 7.2% from Friday’s closing price of 3.986 euros per share.
According to the official announcement, the HFSF will float 25.3% of shares, 85% of which will go to institutional investors and 15% to private investors, and reserve the right to up the offer another 1.7% dependent upon demand.
Reports note that demand for Piraeus Bank from institutional investors remains high and market sources told OT that “the issue isn’t whether or not demand will be covered, but rather the level of oversubscription.”
Analysts expect offers to range between 8-10 billion euros, which would mean an oversubscription of at least 8 times.
As a result of the placement, the Greek state is expected to bring in 1.25-1.35 billion euros, and will only hold an 18% stake in the National Bank of Greece, as it has already placed its shares in Eurobank, Alpha Bank, and a portion of its holding in the National Bank of Greece.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Eurostat: Women and Youth Most Underpaid in Greece
In the EU 18.2% of women are low-paid compared to men, against 23% in Greece. A staggering 43% of young Greeks are low-paid—the second-worst rate in Europe.
Public Services in Greece to Go Under Review with New Rating Tool
Public services will receive their evaluation scores and feedback directly, fostering a system of accountability and continuous improvement.
Istanbul Earthquake – Greek Prof. Concerned Major Quake Yet to Strike
Responding to concerns over whether a potential major quake in Istanbul could affect Greece, Papazachos was reassuring: “The fault extends as far as Lemnos and the Northern Sporades, but it doesn’t rupture all at once. An earthquake in Istanbul doesn’t have the capacity to directly affect Greek territory.”
Greece 4th Most Popular Summer Destination for Europeans
Southern Europe remains the top choice for Europeans at 41%, though down 8% from last year, likely due to rising temperatures and climate concerns.
Easter Sales Performance and the Source of €4–5 Million in Losses
Easter retail sales were relatively weak this year, with the only "real winners" being the livestock farmers who had lambs to sell.
Hotel Foreclosures Continue to Plague Greece’s Islands
A surge in hotel foreclosures across Greece’s islands threatens small tourism businesses, despite booming visitor numbers and record-breaking travel in 2024.
Athens Launches Task Force to Safeguard Historic City Center
The new municipal unit will ensure compliance to zoning laws, curb noise, and address tourist rental issues starting from the Plaka district.
WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year
IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock
First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region
![Accor: Η βιωσιμότητα «κλειδί» για την ανάπτυξη και ανθεκτικότητα του ελληνικού τουρισμού [έρευνα]](https://www.ot.gr/wp-content/uploads/2025/04/thumbnail-90x90.jpg)
![Οι αλλαγές που υπάρχουν στα φορολογικά έντυπα για τα εισοδήματα του φορολογικού έτους 2024 από ακίνητα [Γ’ Μέρος]](https://www.ot.gr/wp-content/uploads/2025/03/akinita-600x400.jpeg)
