Wednesday October 22, 2014 Search
Weather | Athens
24o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
NBG sets its new share price at 2.20 euros

By Yiannis Papadoyiannis

National Bank of Greece’s share capital increase was completed with great success on Thursday with the price of the new shares amounting to 2.20 euros, or 124 percent of the bank’s accounting value.

Among those participating in the increase were some of the world’s biggest investors – among them BlackRock, Pimco, York Capital, Fidelity, Norges Bank, George Soros and the state authority of Abu Dhabi – once again confirming the definitive return of the country and its companies to the international markets.

The National Bank board convened on Thursday afternoon and sources say that chief executive Alexandros Tourkolias expressed satisfaction with the quality of investors who took part in the process as well as the high demand. The share issue was oversubscribed more than twice, with all shares sold to foreign investors.

The valuation of 124 percent is higher than that of the increases that the country’s other systemic banks have performed, reflecting the constant improvement in conditions and demand, leading to ever higher valuation levels.

The extraordinary general meeting of the bank’s shareholders is scheduled to take place on Saturday for approval of both the increase and the share price. After the completion of the increase National will have taken a major step toward its disengagement from the Hellenic Financial Stability Fund (HFSF). With the issue of the new shares the stake of the bank bailout fund is to shrink from 84 to 57 percent.

What National achieves with the increase is the rise of the private sector’s stake in the bank’s share capital as the process will increase the dispersion of shares, an improvement in the lender’s funding capacity, facilitating future access to the markets on improved terms, and a stronger position in supporting the recovery of the Greek economy.

ekathimerini.com , Thursday May 8, 2014 (23:19)  
Credit sector officials sleeping easy ahead of stress test results
Certainty on primary surplus target
Feverish talks on payment plan proposals
TUI promises even more tourists
Archaeologists find missing head of Amphipolis sphinx
Archaeologists digging at a tomb dating to the era of Alexander the Great in ancient Amphipolis in northern Greece have found the missing head of one of the two sphinxes guarding the entranc...
Coalition leaders prepare for troika amid sour mood
A dispute between New Democracy and PASOK over civil servants’ salaries continued Tuesday, underlining the big task facing Prime Minister Antonis Samaras and Deputy Prime Minister Evangelos ...
Inside News
BASKETBALL
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
COMMENTARY
The ECB collateral for Greece must be lowered to 5 pct
According to recent reports, the European Central Bank plans to reduce the “57 percent penalty,” that is the discount applied to almost all Greek government bonds (GGBs) held as collateral b...
INTERVIEW
The past, present and future of the Greek debt crisis
For a decade, until mid-2012, Josef Ackermann was the CEO at Deutsche Bank. It was a position that earned him the nickname “shadow chancellor” of Germany and allowed him to play a decisive r...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Credit sector officials sleeping easy ahead of stress test results
2. Certainty on primary surplus target
3. Feverish talks on payment plan proposals
4. TUI promises even more tourists
5. Archaeologists find missing head of Amphipolis sphinx
6. Coalition leaders prepare for troika amid sour mood
more news
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Gang importing heroin into Greece busted
3. Greece said to seek tailor-made plan for bailout exit
4. Self-opposing coalition
5. Gutsy rectors
6. Applications for heating oil subsidy set to start
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Istanbul skyscraper casts shadow over Greece's banking ambitions
3. Coalition shooting itself in the foot
4. GPO poll gives SYRIZA clear lead over New Democracy
5. Greece must stick to reforms, says Schaeuble
6. Greece’s closed society is central to its current malaise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.