The 10.4-fold overbid in the placement of NBG is a new historical record (compared to previous transactions in the banking sector in the Greek market), say sources of the Hellenic Financial Stability Fund to the Athens News Agency.

They cite the fact that the transaction was carried out with a significantly smaller discount of 1.3% compared to the closing price of the share on October 2, 2024, and compared to similar European transactions in recent years, where the average discount was in the range of 9.5%.

The discount relative to the unaffected closing price on Friday, 27 September 2024, was also low (3.7%) compared to corresponding European transactions.

They consider that the excellent response of the international and Greek investment community, given the geopolitical tensions and subsequent fluctuations in the international markets that have prevailed in recent days, makes the success of the transaction even more significant and is a practical confirmation of investors' confidence in National Bank.

With the new highly successful sale of 10% of the shares of ΝΒG, the HFSF completes its disinvestment cycle from the systemic banks, at least one year before the deadline foreseen by its law.

According to the HFSF sources, the completion of the disinvestment program by the HFSF marks the beginning of the new capital into which the country's banking sector is entering, leaving now definitively behind the instability and uncertainty of the previous decade and being capital-armoured, robust, and competitive, with strong investment and growth prospects, ready to meet all future challenges and to play a substantial role in supporting the growth of the country's economy.