Greek National Bank confirms buy of 5.16 pct stake in Greek Postal Savings Bank
National Bank of Greece (NBG) said it acquired 5.16 percent of Greek Postal Savings Bank via block trades on the Athens Exchange, confirming what sources had said earlier to Thomson Financial News.
NBG explained that it bought 7.34 million shares in four block trades at 13.25 euros per share, taking its total holding in Greek Postal Savings Bank to 5.73 percent.
On March 28, EFG Eurobank Ergasias SA raised its stake in Greek Postal Savings Bank to 5.7 percent by acquiring 5.55 million shares at 10.5 euro per share.
Brokers recently told Thomson Financial News that several banks would be interested in Greek Postal Savings Bank’s further privatisation, should the Greek state decide to reduce its stake from its direct and indirect roughly 44 percent holding.
The brokers explained this was because in times of tight liquidity, Postal Savings Bank rich cash reserves and extensive deposit gather network would command a premium.
National Bank of Greece (NBG) said it acquired 5.16 percent of Greek Postal Savings Bank via block trades on the Athens Exchange, confirming what sources had said earlier to Thomson Financial News.
NBG explained that it bought 7.34 million shares in four block trades at 13.25 euros per share, taking its total holding in Greek Postal Savings Bank to 5.73 percent.
On March 28, EFG Eurobank Ergasias SA raised its stake in Greek Postal Savings Bank to 5.7 percent by acquiring 5.55 million shares at 10.5 euro per share.
Brokers recently told Thomson Financial News that several banks would be interested in Greek Postal Savings Bank’s further privatisation, should the Greek state decide to reduce its stake from its direct and indirect roughly 44 percent holding.
The brokers explained this was because in times of tight liquidity, Postal Savings Bank rich cash reserves and extensive deposit gather network would command a premium.
The president of Greek Postal Savings Bank, Angelos Philippidis, issued a statement saying: ‘The restructuring that the institution is undergoing, coupled with its solid credit worthiness and high liquidity, was going to naturally attract either investments or strategic moves on our share capital’.
‘We welcome the entrance of any new shareholders, which proves in practice the faith that exists for the strategy which we have charted and its implementation,’ Philippidis added.
