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The move marks the end of the privatisation of Greek lenders after debt crisis bailouts.
ADVERTISEMENTGreece is preparing to sell a 10% stake in the National Bank of Greece, representing the end of a privatisation process following state bailouts more than a decade ago.
The price range has been set to between €7.30 to €7.95, Greece’s bank bailout fund HFSF (Hellenic Financial Stability Fund) said on Monday.
Greece could therefore make as much as €727.2m from the sale, with books expected to close on 2 October.
Although the sale marks a pause in state withdrawals from lenders, the government will retain a 8.4% holding in the National Bank of Greece.
This comes after numerous exits in the past year, symbolic of Greece’s recovery following the debt crisis of 2009.
The state has fully withdrawn from Eurobank, Alpha Bank, and Piraeus.
Earlier this year, the ECB permitted Greek banks to pay a yearly dividend to shareholders for the first time since 2008.
The Greek economy is projected to grow at 2.3% in 2025, according to the European Commission – higher than the eurozone average
