Monday April 27, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
NBG book building starts for share capital increase

By Yiannis Papadoyiannis

The book for National Bank of Greece’s 2.5-billion-euro share capital increase opens on Tuesday and will close on Thursday, with the price for the sale of the new shares to be determined by investor offers.

On Saturday a general meeting of the bank will approve the share increase and the share price, completing the process.

Bank officials expressed optimism to Kathimerini about the success of the NBG endeavor, stressing investors’ strong interest during the presentations conducted abroad and the great response of the international investment community to the group’s recent bond issue. The 750-million-euro bond issue was three times oversubscribed as investors offered funds equal to 2.5 billion.

Analysts say that given the spectacular improvement in the climate regarding Greece and the strong investment interest in “Greek risk,” NBG’s share issue will also likely be oversubscribed. Analysts expect the price of the new shares to range between 2.10 and 2.60 euros.

Following dozens of presentations to investors in Boston, New York and London, bank representatives are now in Paris and are expected to conclude on Tuesday. The NBG officials have met with over 120 representatives of institutional portfolios within just a few days, reflecting the great interest in the increase.

Goldman Sachs International and Morgan Stanley will be the international coordinators and managers of the offers book. The share capital increase will be conducted via private placement and the whole of the issue will be allocated to investors abroad.

Analysts add that the completion of the increase will considerably strengthen private participation in the bank’s share capital and reduce the holding of the Hellenic Financial Stability Fund (HFSF). From 84.39 percent today, the stake of the bank bailout fund that performed the lender’s recapitalization will go down to 58 percent, with the participation of the private sector growing to 42 percent.

The process will also make National one of the best capitalized banks on a European level, given also the 1.04 billion euros it will secure through the restructuring of its assets.

ekathimerini.com , Monday May 5, 2014 (23:18)  
European shares fall, Greek concerns weigh
Greek yields rise after creditors give Athens cold shoulder
ECB seen going all the way on QE as economists doubt taper
Pensions will not be cut, insists social insurance chief
Greeks add pressure on Tsipras to compromise as talks resume
Greece resumed efforts to break a deadlock with its creditors as weekend polls showed a majority of the country’s people want the government to make compromises needed to release funds for i...
Tsipras reshuffles negotiating team after Riga debacle
Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, after his finance minister was sharply criticized for his performance at a eur...
Inside News
SOCCER
Panathinaikos beats Xanthi to rise to second
Panathinaikos jumped back up to the second spot of the Super League after its home win over Xanthi on Saturday, as PAOK slumped to third due to its draw at home with PAS Giannina on Sunday. ...
WATER POLO
Olympiakos wins Euro crown in women´s water polo
The women’s water polo team of Olympiakos won its first ever LEN Euro League at the Final Four it hosted in Piraeus by beating holder Sabadell from Spain 10-9 in Saturday’s final. After defe...
Inside Sports
ANALYSIS
If Greece falls, no one wants their prints on the murder weapon
«We're going bust.» «No, you're not.» «You're strangling us.» «No we're not.» «You owe us for World War Two.» «We gave already." The game of chicken between Greece and its international cred...
COMMENTARY
Reaching crunch time
Several cabinet ministers and MPs are no longer hiding it: They either openly admit that they are promoting the drachma or they murmur things like, “Why not the drachma?” Some go even furthe...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greeks add pressure on Tsipras to compromise as talks resume
2. Tsipras reshuffles negotiating team after Riga debacle
3. Anastasiades says Akinci win raises hopes for reunification
4. European shares fall, Greek concerns weigh
5. Greek yields rise after creditors give Athens cold shoulder
6. Berlin silent on content of Merkel-Tsipras chat amid claims of ´dramatic´ situation
more news
Today
This Week
1. Greece’s day of reckoning inches closer as debt payments loom
2. Pensions will not be cut, insists social insurance chief
3. Anastasiades, Akinci speak and look towards fresh push in peace talks
4. Berlin silent on content of Merkel-Tsipras chat amid claims of 'dramatic' situation
5. ECB seen going all the way on QE as economists doubt taper
6. Two Greeks in quake-stricken Nepal reported safe
Today
This Week
1. Greek government's popularity takes a hit as talks drag on
2. Europe's collision course with Greece
3. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
4. Denialism
5. Leaving the past in the past
6. The price of compromise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.