Unprecedented interest in the National Bank's issuance regarding the disposal of a 20% + 2% stake held by the bank to the Hellenic Financial Stability Fund, which is one step closer to divestment by the ESM.

Indicative is that the one-billion-euro book requested by the bidders was covered in the first twenty minutes, while demand has already exceeded 5 billion euros, resulting in an oversubscription of the issuance by 5 times.

Specifically, out of a total of 914,715,153 common shares, the Hellenic Financial Stability Fund (HFSF) will offer up to 182,943,031 of them, representing a 20% stake. These will be distributed as follows:

i) 15%, corresponding to 27,441,455 shares, will be allocated to individuals or special investors participating in the Greek public offering.

ii) 85%, corresponding to 155,501,576 shares, will be allocated to investors participating in the international offering. There is significant interest from large funds and family offices for the international offering.

Earlier:

It took only a few minutes for the book to be fully covered for the placement of the 20+2% of the Special Consumption Tax (SCT) on the National Bank. Bids exceeded 1 billion euros

Earlier:

The book building process for the National Bank begins at 10 a.m., encompassing both the domestic and international public offerings. This unfolds amid strong optimism for a 'comfortable coverage' of the offered percentage.

In contacts with foreign investors, there is significant practical interest in acquiring shares from long-term investors such as Capital Group, Fidelity, and others, while the placement of a cornerstone investor is not favored. According to information, decisions have been made to prioritize existing shareholders in the distribution.

Sources familiar with the processes report, however, that JP Morgan, appointed as the placement advisor by the Athens Stock Exchange for the National Bank, estimates that the domestic market cannot absorb a percentage higher than 3% at the current time. This percentage is primarily directed towards retail investors who wish to acquire or expand their position in the National Bank.

It is reminded that the shares will be offered at a price range of €5 to €5.44, with the upper end of the range equivalent to last Friday's closing and the lower end (€5) at an 8% discount compared to Friday's closing.