National Bank : The placement begins on Monday 30 September

Tomorrow, Monday, September 30, 2024, is expected to be the day when a new divestment announcement is made by TCS. The book of offers is set to commence on the same day and will run until October 2. The divestment will involve the disposal of 10% of TCS s shares, which currently stand at approximately 18.3%, to the National Bank. The percentage of shares allocated to retail investors is projected to be between 15-20%, with the remaining shares going to institutional and long-term investors. The final percentage allocated to the Greek public tender will remain undecided, leaving room for a potential increase in the final allocation. This divestment follows a successful placement that took place in November 2023, where the HFSF disposed of 22% of its shares to the National Bank. The transaction attracted significant interest from investors in Greece and abroad, with demand exceeding the number of shares offered by eight times. In the meantime, the National Bank has shown a significant increase in its financial figures, with earnings after tax in the first half of 2024 reaching 670 million euros and organic profits after tax at group level of 646 million euros, marking a 26% and 27% increase respectively on an annual basis. The National Bank s CEO, Paul Mylonas, highlighted the bank s comparative advantages, including the highest loan disbursements in recent years, which reached EUR 2.8 billion in the second quarter of 2024. Additionally, the bank s net cash increased by 1.1 billion euros from the beginning of the year, totaling 9.1 billion euros, providing significant support for net interest income and strengthening the bank s liquidity advantage. The National Bank continues to focus on technological and digital optimization of its infrastructure, aiming to support the development of the Greek economy and provide innovative financial solutions to its customers. The president of the National Bank of Greece, Gikas Hardouvelis, emphasized the significant changes and improvements in the banking system and the Greek economy over recent years. The new divest

Source: athens-times.com
Published on 2024-09-29