Piraeus Bank stake sale fetches €1.35 bln

The state's revenues from its divestment from Piraeus Bank come to 1.35 billion euros. The public offer for 27% of the bank attracted bids of €10.7 billion in the upper range of the offer price, which was set at €4 per share.

The investment interest covered supply over eight times, in a sale that National Economy and Finance Minister Kostis Hatzidakis described as an "unprecedented success."

According to him, this success is reflected in the fact that the share price was set above last Friday's closing price on the bourse, before the start of the process. This is "extremely rare worldwide," he stated, as "in such cases of mass distribution of shares, prices are almost always set at a discount in favor of the buyers."

For his part, Bank of Greece Governor Yiannis Stournaras also spoke of resounding success, noting that "it mainly reflects the course of the Greek...