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Τρίτη, 8 Οκτωβρίου, 2024

HFSF announces narrower price range from 7.40 to 7.65 euros

Ειδήσεις Ελλάδα

The Hellenic Financial Stability Fund (HFSF) announced on Wednesday that its Board of Directors approved a narrower price range within the price range for the international offering in its meeting of 1 October 2024.

According to the announcement, the price range was set between 7.40 euros and 7.65 euros per offer share.

It was also noted that the managers of the international offering have received orders of demand multiple times in excess of the offer shares throughout that narrower range.

The managers of the international offering shall inform investors participating in the international offering that bids below the lower end of the narrower range will not be considered for allocation of offer shares.

The next steps of the placement

It is noted that the procedures closes on Wednesday, at 16.00, and then the HFSF is expected to meet again in order to decide the distribution of the shares based on the offers that have been gathered. It is worth mentioning that the criteria for the distribution of the 91,471,515 shares are not only quantitative but also qualitative, since the Divestment Strategy that governs the operation of the Fund explicitly states that in any divestment transaction, investors with a long-term investment horizon, such as pension funds, must be prioritized, versus short-term investors such as hedge funds.

Usually, however, the investors who take the highest risks are also the ones who offer the highest price, so a balance will be sought to maximize the parallel objectives of high quality investors and maximum transaction price.

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