Greece Raises Lower End of Price Range for Piraeus Bank Sale

Greece boosted the price range for Piraeus Bank stake sale to €3.90 to €4 a share, hours before the books close later on Wednesday.

The Hellenic Financial Stability Fund — a bank recapitalization tool established at the start of Greece’s bailout programs — said Monday that the price range for the sale of its entire 27% stake in the lender would be from €3.7 to €4 a share. The demand exceeds by multiple times the offered shares in the new price range, the fund said Wednesday.

The Greek state could raise as much as €1.35 billion ($1.47 billion) if it ...