The major investor has sold 5.8% of the total outstanding shares
Shares of Piraeus Bank sold by John Paulson have gone like hot cakes, with international funds finding an entry window into the lender. Beyond the 35 million shares from yesterday's placement, he has disposed of a total of 71 million shares this year, fully confirming BN's recent report stating that changes in a systemic bank's share capital were imminent. Despite the sales, the stock has rallied 45% since the start of the year and exhibits exceptional market performance, driven by the significant improvement in financial results presented by the Megalou management team, strengthening Piraeus Bank shares.
With the opening of the trading session, a block trade of 35 million shares went through. This concerns John Paulson's placement executed yesterday via JP Morgan. The target range provided was 9.51-9.68 euros, and initial information reported by BN spoke of 25 million shares. However, 35 million shares or 2.83% of total shares were ultimately sold at 9.51 euros per share, namely at the lower bound of the range, impacting bank stock placements.
The total value of the package stands at 332.8 million euros. However, the interest stems from Piraeus Bank's announcement, which states that the major investor reduced his stake to 8.4% and currently holds 104 million shares. Based on previous disclosures, Mr. Paulson appeared to hold 175.3 million shares. In fact, this percentage is listed in Piraeus Bank's annual balance sheet. What does this mean? It appears that over recent months—from late 2025 up to yesterday when he updated his new stake—the major investor sold 2.95% (below the 3% threshold so as not to trigger a formal disclosure requirement) and yesterday sold an additional 2.83% and 35 million shares, prompting the official notification. Thus, in total, he has sold approximately 71 million shares or 5.8% of total share capital, shaping banking sector investments.
What is listed in the balance sheet
As of December 31, 2025, according to information received by the Bank pursuant to Law 3556/2007, Mr. John A. Paulson indirectly held, through Paulson & Co. Inc., a company controlled by him, 175,317,912 common registered shares with an equal number of voting rights, representing a 14.18% stake in the Company's total number of common shares. Paulson & Co. Inc. exercises voting rights as an investment manager of funds that directly hold the Company's shares, reflecting institutional shareholder structure.
The announcement by Piraeus Bank
Piraeus Bank S.A. ("Piraeus" or the "Company") informs the investing public that its shareholder, Paulson & Co. Inc. ("Paulson"), notified the Company on November 04, 2026 of the following statement: As part of its portfolio rebalancing, Paulson reduced its stake in Piraeus today to approximately 104 million shares, representing 8.4% of the Company's share capital. Following the sale, Paulson remains the largest shareholder in Piraeus, maintaining major banking stakes.
Paulson represents a long-term and stable shareholder of Piraeus, supporting it for a series of years. Among other actions, it participated alongside the Greek State in the 2021 capital increase, acquiring approximately 233 million shares at a price of €1.15 per share. Since then, Piraeus has transformed under the experienced leadership of its Chief Executive Officer, Mr. Christos Megalou, strengthening Greek financial markets.
"We remain exceptionally positive regarding the future prospects of Piraeus," stated Mr. John Paulson, President of Paulson Capital. "Mr. Alex Blades, a partner at Paulson and Vice Chairman of the Board of Directors of Piraeus, will continue to serve as an active member of its Board of Directors," highlighting executive board continuity.
G.K.
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