SUBSCRIBE

CATEGORIES

Greek bank rescue fund reduces stake in Alpha Bank to 9%

imageStock Markets15 minutes ago (Jul 01, 2021 04:36AM ET)

(C) Reuters. FILE PHOTO: A woman makes her way past the logo of Alpha Bank in Athens March 26, 2014. REUTERS/Yorgos Karahalis/File Photo

ATHENS (Reuters) – Greece’s bank rescue fund HFSF said on Thursday it took part in Alpha Bank’s 800 million euro ($948 million) share offering partially, reducing its holding to 9% from 11% previously but remaining the bank’s largest shareholder.

“The fund remains Alpha Bank’s largest shareholder, proving its trust in the bank’s management and its future,” The Hellenic Financial Stability Fund said in a statement.

The HFSF fund, which holds stakes in Greece’s four big banks – Piraeus, National, Eurobank and Alpha – after taking part in three recapitalisations, was advised by UBS Europe and Societe Generale (OTC:SCGLY) on its participation in Alpha Bank’s equity offering.

Alpha Bank’s share placement with institutional investors was oversubscribed about two times and was priced at 1.0 euro per share.

The public offering in Greece and the international placement with institutional investors via bookbuilding ran in parallel and were completed on Wednesday.

Goldman Sachs (NYSE:GS) and JPMorgan (NYSE:JPM) acted as joint global coordinators and joint bookrunners, with Citigroup (NYSE:C) the senior joint bookrunner and Barclays (LON:BARC) BARC.L and Axia Ventures joint bookrunners.

Greek bank rescue fund reduces stake in Alpha Bank to 9%

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.