Greece begins sale of bank stake

Greece’s bank bailout fund (HFSF) started the sale of a 10 per cent stake in the National Bank of Greece (NBG) on Monday, with the offer price set between €7.3 and €7.95.

The public offering for both foreign and domestic investors will remain open until October 2, according to the fund.

This sale concludes the re-privatisation of Greek banks, which were bailed out during Greece’s debt crisis. HFSF currently holds an 18.4 per cent stake in NBG, the country’s second-largest lender by market value.

The remaining shares will be transferred to Greece’s sovereign wealth fund. Earlier this year, HFSF sold its stakes in Eurobank, Alpha Bank, and Piraeus Bank.