Piraeus Bank: Crowding investors on the first day of the placement with bids over €4 billion

Very strong was the interest recorded in the first day of the placement for the share of the EFSI in , with the information reporting that the bids exceeded EUR 4 billion. According to the same information, it is not excluded that the demand to exceed even 8 billion euros at the end of the process, as happened in the case of the disposal of 22% of the National Bank. Yesterday (4.3.2024), from the first minutes of the bidding book process demand had already covered the shares offered and even the total percentage of the TSF. As a result, the HFSF decided to exercise the right to increase the number of shares offered on the Offer by 62.518,361 shares (percentage) and the total of the shares offered increased from 275.080,789 (percentage 22%) to 337,599,150 (27%). It is noted that the price range in which Piraeus Bank shares are available moves from 3,70 to 4 euros. The large participation in Piraeus Bank’s placement had been discounted by contacts with international and domestic investors who had held the TFT, Piraeus Bank and the consultants of the two sides since the beginning of the year. The investment interest was reinforced after Piraeus Bank announced the results for the use of 2023. It is recalled that Piraeus Bank announced for the last quarter of 2023 the strongest financial results in its history, producing profits of 0.25 euros per share and 20% return on equity, leading the corresponding annual figures of 2023 to 0.80 euros and 17%. The financial year 2023 closed for Piraeus Bank with adjusted net profits of more than EUR 1 billion (1,047 billion) almost twice as much as EUR 531 million in 2022, while net revenue amounted to EUR 2 billion, showing an increase of 48% annually. The book of offers for Piraeus Bank will remain open until Wednesday 6 March at 4 p.m. Greece. Offered Shares will be made available: in Greece, to private and special investors, by public offering, up to 41.262.118 common shares. Investors in the Greek Public Offer will register for offered shares at the maximum price of the price range, i.e. 4 euros. Euroxx Stock Exchange S.A. Y. acts as Consultant for the Greek Public Offer and Coordinator Lord Contractor of the Greek Public Offer and Piraeus Bank S.A. acts as Coordinator Principal Contractor of the Greek Public Offer, and outside Greece through private placement to (i) persons reasonably considered to be special institutional buyers in the US, and (ii) some other special investors outside the United States. BofA Securities Europe SA acts as Chief Coordinator General for the International Offer. BofA Securities Europe SA, Goldman Sachs Bank Europe SE and UBS Europe SE act as General Coordinators for the International Offer. Barclays Bank Ireland PLC, BNP Paribas, HSBC Continental Europe, J.P. Morgan SE and Morgan Stanley Europe SE act as General Administrators of the Book of Tenders for the International Offer and AXIA Ventures Group Ltd and Euroxx Stock Exchange S.A. Y. act as Co-Head Managers for the International Offer. The distribution of the initially offered shares (22%) has been divided between the Greek Public Offer and the International Offer as follows: (i) 15%, corresponding to 41.262.118 of the initially offered shares, will be allocated to investors participating in the Greek Public Offer and (ii) 85%, corresponding to 233.818.671 of the Originally Offered Shares, will be allocated to investors participating in the International Offer. Announcements for the final sale price of Piraeus Bank’s shares, as will be formed by the range of offers, as well as the result of the Greek Public Offer, will be made on Thursday, March 7th. The loan of the shares offered to investors’ portions and securities accounts will be made on 11 March.