Greece-based Piraeus Bank on Tuesday announced that major shareholder Paulson &
Greece-based Piraeus Bank on Tuesday announced that major shareholder Paulson & Co. Inc. has sold 35 million ordinary shares, corresponding to approximately 2.8% of Piraeus’ share capital, at a price of 4.58 euros per share.
The transaction was executed through an accelerated bookbuilding process managed by Goldman Sachs, with the total value of the package reaching 160.3 million euros.
Through this move, the US investor has undertaken a rebalancing of its portfolio, securing profits from Piraeus Bank shares, which have gained 6.87% over the past month, while also contributing to the free float, according to a bank press release.
Despite the sale, Paulson remains the largest shareholder of Piraeus Bank, retaining approximately 170 million shares, or 14% of the ATHEX-listed lender.
In an official statement, the firm emphasized its commitment to the bank: “Paulson is dedicated to remaining a long-term shareholder and actively participating in the growth and value enhancement of Piraeus Bank.”
Strong Financial Results for Piraeus Bank
Piraeus Bank reported robust financial performance for 2024, announcing net profits of 1.1 billion euros, marking a 38% year-on-year increase.
The bank also posted a strong return on average tangible book value (RoaTBV) of 17.5%, aligning with the highest
Content Original Link:
Read Full article form Original Source OIKONOMIKOS TAXYDROMOS
" target="_blank">Read Full article form Original Source OIKONOMIKOS TAXYDROMOS
