Bids for the 22% held by the Hellenic Financial Stability Fund exceed all expectations (HFSF) in the National Bank of Greece.
As analysts told BnB Daily, the bid for 20% was met by the the first quarter of the book opening, with the total bids exceed €5 billion.
The Radiography of Percentages
The fact that demand from abroad and large Greek investors is very high has made a positive impression in financial circles. After the transaction, the government's share will decrease to 20% from 18%. Let's not forget that 20% of ASE is available, with the possibility of expanding the percentage by 2%. Out of the 20%, 17% is allocated to foreign investors, and the remaining 3% is available domestically.
The next steps of ASE are as follows:
- Thursday, November 16: Closure of the Greek public offering at 4 p.m.
- Thursday, November 16: Closure of the international public offering at 4 p.m.
- Friday, November 17: Announcement of the results of the Greek public offering
- Friday, November 17: Announcement of the results of the international public offering
- Tuesday, November 21: Crediting of shares to investors' accounts (expected date)
RALLY IN THE STOCK MARKET ATHENS
The fact of the success of the disposal of the 20% stake in Ethniki led to massive buying of banking stocks, and not only of shares.
However, analysts say there is not so much value in the short-term reaction of investors, but the long-term benefits, which will be multiple.
This is because the entry of quality and long-term capital brings a significant upgrade of the stock market.
FOCUS ON THE BANKS
Greek banks play a pivotal role in the developments. Both the bids for the National Bank's stake and Unicredit's entry into Alpha Bank indicate that the domestic banking system has turned a new page and has become an attractive pole for investors. Investors who possess the necessary capital are driving the banking system towards growth, concurrently expressing a vote of confidence in the moves made by the banks.
