![Greek state eyes one-bln-€ benefit from sale of NBG stake held by HFSF; 9% of Alpha Bank passes to UniCredit for 293.5 mln€](https://www.ot.gr/wp-content/uploads/2023/05/ethniki-trapeza.jpg)
The Greek state is expected to pour anywhere from 914 million euros to 1.09 billion euros into its coffers from the sale of a large stake held by the Hellenic Financial Stability Fund (HFSF) in National Bank of Greece (NBG), depending on the number of shares to offered and the final price per share.
If 22 percent of NBG’s shares are sold by HFSF then revenue will hover at one billion euros, based on a sale price at five euros per share; 1.09 billion euros in revenue if the share price is set at 5.44 euros per share.
HFSF’s board of directors on Monday approved the public offering of the 20-percent equity stake, with the upsize option of up to 182,943,031 shares at a price range of 5 to 5.44 euros per share.
In an announcement, HFSF said NBG is not offering any shares in the offering and will not receive any proceeds from the sale of HFSF-held shares, with the net proceeds to be received by the selling shareholder.
The offer shares will be, primarily, floated in Greece to retail and qualified investors.
The same announcement noted that “…outside Greece, pursuant to private placements to (a) persons reasonably believed to be qualified institutional buyers in the United States of America and (b) certain other institutional investors outside the United States. The EBB shall remain open during the Greek Public Offering period (i.e. from 14 November 2023 until 16 November 2023) as of 10:00 Greek time, and until 17:00 Greek time, apart from the last day of the Greek Public Offering period, i.e. on 16 November 2023, on which it will close at 16:00 Greek time.”
Earlier in the day, HFSF announced that it has agreed to sell its entire stake in Alpha Bank group, namely, 211,138,299 common registered shares, UniCredit S.p.A. The equity stake corresponds to 8.9781 percent of the Greek systemic bank’s paid-up share capital and voting rights, and comes days after a share purchase agreement between HFSF and the Italy-based credit institution was finalized.
The deal translates into a consideration of 293.5 million euros for a 9-percent stake of Alpha Bank. UniCredit paid 1.39 euros per share.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country