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National Bank of Greece S.A. Message Board

  • fullerton_titan fullerton_titan Jun 27, 2013 10:05 AM Flag

    Shares are Worth $12.50....

    "On the terms and subject to the conditions of the Offer, the Bank is offering to pay $12.50 per ADS net to the seller in cash, less any applicable withholding taxes and without interest, after deduction of any other applicable fees and taxes,"

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    • that's for preferred stock, 50% discount from value at time of announcement

      • 1 Reply to transcribomdllc2
      • No, the $25 is the par value, the market price was a bit less than $12.50. They offered a slight premium to "market" hoping to persuade holders to cash in. The advantage to the bank in doing this is that from an accounting standpoint for every share coming in, they get to reduce the carrying value ($25) of each share, in this case by almost half. That in turn will make thei capital ratios look better, that is if investors cooperate.

    • LOL!!!!! Thats pretty funny....Not the right stock...THIS stock it worth...wait for it....

      $3.45 as of close June 28.

      What made you consider, even for a minute, that "the bank" would offer to buy at 12.50 when they can buy all they want for under 4?

      Dosent there seem to be a hole in this logic??

      But then again, you knew all of this when you posted the message.

    • wrong shares, buddy. that offering is for the preferred stock, symbol NBG-PA. nobody in his right mind would tender for this stinker, certainly not nbg managment. btw, the tender offer for the preferreed closes tomorrow, so you cant participate in that, either unless you bot the preferred yday

      • 1 Reply to p.celsus
      • Broker dealers and certain market makers can legally sell short naked (of course we can not). So no one probably really knows what the heck is short out there. So IMHO these are not long term buyers bidding up the stock now. You want THOSE types in there, not guys covering to lock in big gains or arbs playing the 2 markets.

0.1609-0.0253(-13.59%)Nov 27 1:07 PMEST