Boston, MA 05/31/2013 (wallstreetpr) – The prices of American Depository Receipts of National Bank of Greece ADR (NYSE:NBG) had declined by 42.05 percent to close at $7.07 for the end of last trading session. The ADRs of the Greece based financial services institution had been trading in the range of $5.64 to $7.70 during the day before closing at $5.13 lower than the previous day’s closing price. This sharp decrease in the prices of American Depository Shares of National Bank of Greece ADR (NYSE:NBG) had led the institution to hit new levels of 52 week low price at $5.64 per ADR, while the 52 week high price level remains at $32.50 per ADR.
Recapitalization plan
The Greece based financial institution had earlier this month announced to sell additional shares as part of its recapitalization plan. National Bank of Greece ADR (NYSE:NBG) had announced that it would sell 2.27 billion shares at $5.50 per share. This price per share was calculated with 1 to 10 reverse stock splits of the shares of the bank as basis.
National Bank of Greece ADR (NYSE:NBG) with operations based in Greece offers wide range of integrated finance services including corporate and investment banking, retail banking, asset management and venture capital, stock brokerage, insurance, real estate and consulting services. The financial institution presently holds 95.61 million shares outstanding and the institutional ownership in the bank is at 6 percent of its holdings. The average trading volume of National Bank of Greece ADR (NYSE:NBG) is at 1.08 million ADRs per day.
