A 35m-share placement in Piraeus was completed, with the block trade executed through Euronext Athens at the start of today’s session.
Specifically, a block of 35m shares in the bank, or about 2.8%, was traded for €332.85m. The shares were therefore sold at €9.51 each.
JP Morgan handled the transaction, with the bank’s major shareholder, John Paulson, as the seller.
Following the sale, his stake stands at 8.4%.
There was very strong demand from buyers, resulting in the placement being oversubscribed. The shares were allocated to a large number of investors, increasing the stock’s free float.
Statement from Paulson & Co. Inc.
Piraeus Bank S.A. informs investors that its shareholder, Paulson & Co. Inc., notified the Company on 4 November 2026 of the following statement:
“As part of a portfolio rebalancing, Paulson today reduced its stake in Piraeus to approximately 104m shares, representing 8.4% of the Company’s share capital. Following the sale, Paulson remains Piraeus’s largest shareholder.
Paulson is a long-term and stable shareholder in Piraeus, which it has supported for many years. Among other things, it took part alongside the Hellenic Republic in the 2021 share capital increase, acquiring approximately 233m shares at €1.15 per share. Since then, Piraeus has been transformed under the experienced leadership of its chief executive, Mr Christos Megalou.”
“We remain particularly positive about Piraeus’s future prospects,” said John Paulson, Chairman of Paulson Capital.
“Mr Alex Blades, a partner at Paulson and Vice Chairman of Piraeus’s Board of Directors, will continue to serve as an active member of its Board.”