The Hellenic Financial Stability Fund (HFSF) announced on Wednesday that its Board of Directors approved a narrower price range within the price range for the international offering in its meeting of 1 October 2024.

Bids for the international offering in the placement of the 10% share in National Bank may be submitted at a price of €7.55 until the book closes at 4 p.m. today.

The advisor's recommendation, which urges restraint at a conservative price level for the public offer in order to make the final price appealing to long-term investors, led to this decision by the HFSF Board of Directors.

Following the announcement of a smaller price range for the international offer—7.40 to 7.65 euros instead of 7.30 to 7.95 euros—geopolitical developments that increase market volatility also played a role in the decision.

The prospectus for the 10% NBG public offer outlines the Fund's ability to set a narrower range—within the price range it has already announced—or even to determine an indicative price. The large difference in the announced price range of 7.30 to 7.95 euros per share further supports this ability. The relevant possibility was activated during the public offer for the sale of 27% of Piraeus Bank, when after the range narrowed and just before the closing of the book the final offering price was set at the upper price of EUR 4 per share.