Optima Bank public offering reportedly over-subscribed three-fold

A public offering for 21 million new Optima Bank shares has been reportedly over-subscribed three-fold, according to reports early Friday afternoon, with offers by would-be investors exceeding 450 million euros.

The non-systemic Athens-based bank has ascribed a value of 151 million euros for the tranche of offered shares, which account for 28.5 percent of its total share capital.

The listing of Optima Bank on the Athens Stock Exchange (ATHEX) will mark the first time in 17 years that a financial institution will be listed.

In terms of preferred investors, Ireon Investments, a subsidiary of Greek refinery and petrochemical conglomerate Motor Oil, will acquire a 10-million-euro stake in Optima; 21 million euros is the amount to be invested by Reggeborgh, which translates into roughly 4 percent of shares.

Additionally, Fiera Capital will invest 15 million euros in the public offering.

An official announcement regarding the results of the public offering is set for roughly 18.00 Athens time (16.00 GMT).