Thursday December 18, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece's National Bank completes 2.5 bln euro share sale [Update]

National Bank of Greece (NBG) became the latest of Greece's four major lenders to successfully tap international markets as prospects of a recovery in the Greek economy lure investors.

The country's biggest bank confirmed on Friday it had priced an offering of new shares at 2.20 euros each after books closed on Thursday, as it aims to raise 2.5 billion euros ($3.5 billion) to boost its capital.

"The share offering was substantially oversubscribed, confirming a strong interest by institutional investors in National Bank," it said in a bourse filing.

Its peers Eurobank, Alpha and Piraeus have raised 5.81 billion euros between them through similar equity offerings over the past six weeks.

The new shares in NBG's offering were priced at a 15 percent discount to Thursday's closing price of 2.58 euros.

All of Greece's four major lenders had to be rescued by the Hellenic Financial Stability Fund (HFSF), which has been endowed with 50 billion euros out of the country's EU/IMF bailout and has spent about 39 billion on the task so far.

NBG has a stock market value of 6.73 billion euros and is 84 percent-owned by the HFSF, whose stake in the lender will fall to 57 percent after the share issue.

Proceeds from the sale will be used to cover the difference between a 2.18 billion euro capital hole, revealed in a central bank stress test in March, and other moves to boost capital by 1.04 billion euros that have been approved by the Bank of Greece.

Goldman Sachs and Morgan Stanley acted as global coordinators and bookrunners, joined by BofA Merrill Lynch, Citigroup, HSBC, UBS and Mediobanca.

[Reuters]

ekathimerini.com , Friday May 9, 2014 (13:43)  
Eurozone bond yields fall as ´patient´ Fed pleases investors
Stores will open on Dec 28, but traders aren’t too happy about it
More Britons and Americans eyeing Greece for vacations
Vodafone and Wind to bid for Forthnet
Merkel says Russia sanctions to remain unless Putin yields; Greece´s prospects ´better than two years ago´
German Chancellor Angela Merkel said economic sanctions imposed on Russia remain “unavoidable” as long as President Vladimir Putin doesn’t yield on Ukraine. Merkel defended Ukraine’s right t...
Kammenos maintains firm position, says general election is ´one-way street´
Panos Kammenos, leader of the anti-bailout Independent Greeks party, on Thursday said he maintained his firm position of not voting in favor of Stavros Dimas, the coalition government's choi...
Inside News
BASKETBALL
Pappas helps Greens overcome Aris
An impressive Nikos Pappas averted an upset by Aris and ensured Panathinaikos retained its perfect record on Tuesday, one day after Olympiakos thrashed Panionios at Nea Smyrni for the Basket...
´Wee Jay´ and idol Georgios Samaras receive Greek sports journalists´ award at Athens gala
A 10-year-old Irish fan of Greek striker Georgios Samaras was in Athens on Monday at the invitation of the Greek Sports Journalists' Association, which honored outstanding achievements in sp...
Inside Sports
COMMENTARY
Europe´s drama in Greece needs final act to avoid tragedy
Judging from Wednesday's vote in the Greek parliament, Prime Minister Antonis Samaras may not get the mandate he wants to keep economic austerity measures in place and avoid defaulting on th...
COMMENTARY
A pointless battle
The public closely watched the first act in the three-part drama of Parliament’s election of a new president yesterday. The result was below the expectations of the New Democracy-PASOK coali...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Merkel says Russia sanctions to remain unless Putin yields; Greece´s prospects ´better than two years ago´
2. Kammenos maintains firm position, says general election is ´one-way street´
3. Eurozone bond yields fall as ´patient´ Fed pleases investors
4. Election looms as Samaras fails to win vote for president
5. Stores will open on Dec 28, but traders aren’t too happy about it
6. More Britons and Americans eyeing Greece for vacations
more news
Today
This Week
1. Election looms as Samaras fails to win vote for president
2. Europe's drama in Greece needs final act to avoid tragedy
3. Eurozone bond yields fall as 'patient' Fed pleases investors
4. Kammenos maintains firm position, says general election is 'one-way street'
5. Merkel says Russia sanctions to remain unless Putin yields; Greece's prospects 'better than two years ago'
6. High stakes
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. East Europe scrambles for energy after Putin kills South Stream
6. Anarchist Nikos Romanos ends hunger strike
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.