Bank Bailout Bonanza: Greece's HFSF Sets Price Amid Overwhelming Demand

Greece's HFSF has finalized the National Bank equity offering price at €7.55 per share. A 10% stake was sold through a book-building process and public offer, oversubscribed by 12 times. The offering concluded on Wednesday, highlighting strong investor interest.

In a significant financial development, Greece's bank bailout fund, HFSF, has determined the final pricing in a National Bank equity offering at €7.55 per share, equivalent to $8.33. This decision was confirmed by two knowledgeable sources on Thursday.

The HFSF successfully divested a 10% stake in the National Bank through an extensive book-building process complemented by a public offering that culminated on Wednesday in Greece.

An official familiar with the matter, speaking anonymously, revealed that the offering was oversubscribed by an impressive 12 times, underscoring robust investor interest and confidence in Greece's banking sector. (Exchange rate: $1 = 0.9063 euros)

(With inputs from agencies.)