ATHENS — Piraeus Financial Holdings S.A. (“Piraeus”) announces that it has successfully completed the combined offering of 1,200,000,000 new ordinary registered voting shares, each having a nominal value of €1.00 (the “New Shares”) to (i) institutional investors pursuant to a book-building process outside of Greece (the “Institutional Offering”) and (ii) retail and qualified investors in Greece (the “Public Offering” and, together with the Institutional Offering, the “Combined Offering”).
Based on the results of the three-day book-building process, following consultation with the Joint Global Coordinators of the Institutional Offering (Goldman Sachs Bank Europe SE and UBS Europe SE), the Board of Directors of Piraeus set the offer price at €1.15 per New Share. This offer price represents the top of the initial offer price range of €1.00 to €1.15 per New Share approved by Piraeus’ Board of Directors on 16 April 2021. As a result, Piraeus is expected to generate gross proceeds of €1.38 billion from the Combined Offering.
The Combined Offering attracted a broad participation of domestic and international investors, ending multiple times oversubscribed.