Look..the Chinese have promised to help Greece. Greece is perfect for them since China is also a communist country.
If the Greek banks default their loans, then there is a possibility of debt restructuring process where the common shares are wiped out and go to zero. The banks may need to raise fresh capital and issue new common.
NBG itself may survive this process but you can lose your investment in the bank. Nobody really knows at this point.
Could happen...then sell and later have a holiday in Greece and use the Drachmas there.
From the NBG-PA Prospectus: "If we are wound up or liquidated, whether or not voluntarily, you will be entitled to receive out of our liquidation proceeds a distribution per Series A preference share of an
amount equal to the liquidation preference, or $25, before any distribution or payment may be made to holders of our ordinary shares or any other class of our shares ranking junior in
respect of liquidation proceeds. In addition, in relation to dividends approved by our shareholders at the most recent Annual General Meeting, if any, and not already paid on the
Series A preference shares, you will rank as an unsecured and unsubordinated creditor of the Bank."
With PRGN market cap of 17.44M there is little risk of this going lower (assuming their don't BK). The gamble here is that if the banks continue to support their liquidity and when the BDI recovers. Both are currently happening.
The CEO said that Grexit and softer local currency actually would benefit PRRN.
Youtube: "Greek debt crisis: Tsipras seeks to thrash out deal"
maybe in 2016...or 2026. The recent raise of the PBR stock price does not look viable, sorry
I would not 'invest' here. The Brazilian government is at the helm with a hidden agenda.
The company is looking to offload the 72,891-dwt Deep Seas and the 74,000-dwt Calm Seas (both built 1999).
How much they are worth?