Sale of 10 pct stake in NBG ups taxpayer losses from banks to 34 bln

EconomyBanking Tags: Banking, Markets, NBG
Photo by MacroPolis
Photo by MacroPolis

The latest divestment from the banking sector by the Greek state was completed on Thursday when the book closed for the placement of a 10 pct stake in National Bank of Greece (NBG).

The transaction made available 91.47 million common stock, which represents 10 pct of the 18.49 pct stake of HFSF in NBG and was met with high demand by the investment community, with the book oversubscribed by 10.4x, reaching a total of 7 billion euros...

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