Large “investment houses” also in the placement of Piraeus

With large “investment houses”, such as Capital Group, Fidelity, BlackRock, Lazard, Wellington, Pictet, etc., leading to a strong oversubscription of approximately 10 times the total offer book (about 13 billion euros were offered), for the placement of 27% of the shares of Piraeus owned by the HFSF, and the disposal price to “lock” in the maximum range, i.e. four euros, supporting the momentum of the market, the Athens stock exchange closed yesterday with a slight increase (+0.15 %) near 13-year highs. The HFSF said that the managers should inform the investors participating in the international offer that purchase requests below the amount of four euros will not be taken into account for the allocation of the offered shares. Piraeus shares closed yesterday at 4.1640 euros, with a market capitalization of 5.21 billion euros, compared to 3.98 euros when the bank’s shares opened last Monday. Of the 27% of the issue, 22% will be allocated to foreign institutional investors and 5% to domestic investors.