NBG has three asset sales this month excluding the Turkish bank. CEO has confirmed that they can come up with additional reserves if needed. He also mentioned, if NBG can't pass the stress test, no other bank in Greece can pass.
BlackRock Solutions will submit the eagerly awaited results of the stress tests on Greek bank loan portfolios to the Bank of Greece on Friday, while the governor of the BoG has scheduled a meeting with the heads of the four commercial lenders to discuss their restructuring plans and management of nonperforming loans.
use the below address for updated prices on premium:
Don't forget 3w.
Also, remember big investors won't take a risk for 2.5% gain, they are looking to double their money in 1-3 years. The same should apply to us. Large cap stocks in US are already 25% up. why should they stuck with 2.5% gain in NBG?
Again, I am not concern too much about warrants. It is a common practice in stock market. It will not hurt the stock price in long run. It will act the same as dividen. Here is my analogy:
Strike price is EU 4.3758 plus the premium EU 0.04/share
The cost in dollar almost is $6.00 (1.358 $), excluding of broker fees etc.
currently, premiums are traded at .18 per share (1.50 for 8.23, today's closing price is athex) which is high.
the actual price will be $6.15. That is only 2.5% gain. Would you buy the warrants and wait six month to execute it for total 2.5% gain or you rather buy the stock up right.
I believe we should not be too concern with warrants. At this price, the warrants are worthless. The stock price needs to get to $6.30-$6.50 before a foreign investor decides to purchase one. the ones who already paid a premium are out of money. The warrants will probably expire as it happened with Eurobank. No investor showed up last month and NBG has to write off $81 million.
check: nbgwf, the last trade was in Nov 20.
Traders should now look for long-biased trades in NBG if it manages to break out above some near-term overhead resistance at $6.48 a share to its 200-day moving average at $6.81 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 4.84 million shares. If that breakout hits soon, then NBG could possibly tag $9 to $10, or even $11 a share.
Sprawling across 75 acres of sun-drenched gardens on a pine-dotted private peninsula, the resort complex includes three hotels Arion, a Luxury Collection Resort & Spa, The Westin Athens and W Athens. Explore the endless recreational facilities and gourmet dining possibilities.
National Bank of Greece and state privatization fund TAIPED, which control the fate of the Astir Palace hotel at Vouliagmeni, southern Athens, have reportedly set a minimum asking price for the unit at 400 million euros ahead of tomorrow’s deadline for the submission of binding bids.
Although the bank and the fund are saying nothing about the identity of the three bids that have been short-listed for the sale of the hotel, the highest bid appears to have come from AGC Jermyn Street IV, which is based in London and supported by investors of mostly Arab origin.
Sources add that there is also some Turkish interest behind one of the three bidders.
Market experts say that all three suitors are eager to acquire the unit and will fight it out till the end for its control.
Sentiment: Strong Buy
fully recapitalised. However, other aspects of structural reform have encountered significant resistance from vested interests, holding back productivity gains and forestalling stronger FDI flows.
Sentiment: Strong Buy