Greece to kick off National Bank stake sale next week, sources say
Adds more quotes from sources, background
ATHENS, Sept 24 (Reuters) -Greece's bank bailout fund HFSF will start the process to sell a stake of up to 12% in National Bank of Greece NBGr.AT early next week, two officials with knowledge of the matter said on Tuesday.
With the planned sale, Greece will conclude the re-privatisation of its banks, which were bailed out during a debt crisis that nearly drove the country out of the euro zone.
"Our plan is to start the process for the sale of 10%-12% on Monday and conclude by Wednesday," one of the officials told Reuters.
HFSF holds an 18.4% stake in National Bank (NBG), Greece's second largest lender by market value. The remainder will be transferred to Greece's sovereign wealth fund.
"The shares will be offered at a small discount to the current market price," the official added.
NBG shares were trading at 7.64 euros on Tuesday, valuing a 12% stake at about 900 million euros ($1 billion).
A second official confirmed the timing of the sale, adding the shares would be sold through a combined offering to institutional investors abroad and to domestic institutional and private investors.
The fund sold its holdings in Eurobank EURBr.AT, Alpha Bank ACBr.AT, Piraeus Bank BOPr.AT and part of its stake in NBG earlier this year and late in 2023.
($1 = 0.8989 euros)
Reporting by Lefteris Papadimas
Editing by Mark Potter
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