HFSF launches Greek public offering of a 22% stake in Piraeus Bank

The process began at 10:00 on Monday and will end at 16:00 on Wednesday, March 6.

According to an announcement, HFSH may increase the offering at its sole discretion by up to 62,518,361 ordinary shares - in other words to 337,599,150 shares, or its entire 27% stake in Piraeus Bank. According to reliable sources, the offering was four times oversubscribed in the first few minutes, with the HFSF now aiming at an offering of 27%, which will lead to the full privatisation of Piraeus Bank.

The timetable of the Greek Public Offering is as follows:

4 March 2024 - Commencement of the bookbuilding process for the International Offering (10:00 Greek Time).
4 March 2024 - Commencement of the Greek Public Offering (10:00 Greek Time).
4-6 March 2024 - The Selling Shareholder may at its sole discretion upon resolutions of its Board of Directors decide to (not in order of priority): (i) exercise the Upsize Option; (ii) determine a narrower range within the Price Range; and/or (iii) determine a price point guidance. In accordance with Article 17 of the Prospectus Regulation, investors shall be informed through the publication of respective announcements addressed to investors in the Daily Statistical Bulletin of the ATHEX and on PFH’s and the Selling Shareholder’s websites.
6 March 2024 - End of the bookbuilding process for the International Offering (16:00 Greek Time).
6 March 2024 - End of the Greek Public Offering (16:00 Greek Time).
7 March 2024 - Publication of the Pricing Statement in the Daily Statistical Bulletin of the ATHEX and on PFH’s and Selling Shareholder’s websites.
7 March 2024 - Publication of a detailed announcement concerning the outcome of the Greek Public Offering in the Daily Statistical Bulletin of the ATHEX and on PFH’s and Selling Shareholder’s websites.
11 March 2024 - Crediting of the Offer Shares to the Investor Shares and Securities Accounts (expected Settlement Date).