The Greek government has decided to sell approximately 10% of its 18.39% stake in the National Bank of Greece, while aiming to retain the remaining 8.39%. This move is seen as a strategic decision to maintain a share in a systemic bank. The final percentage to be sold may vary depending on market demand, with a potential fluctuation of around 2%.
The announcement of the government’s decision is expected to be made during a board meeting on Monday, where the Hellenic Financial Stability Fund’s representative will present the rationale behind the move. Following this, JPMorgan will initiate the process of exploring the market interest in the stake, starting with discussions with potential investors.
The placement of the shares is scheduled for the first week of October, with tight timelines for the completion of procedures. Despite some gaps in details such as the final percentage and pricing, the government intends to conduct a combined offer both domestically and internationally. The decision aims to optimize the sale price while ensuring a smooth transaction process.