简单解释一下我的了解 NBG这个tender offer主要就是针对持有其在US发行的特别股股东们(非普通股)。 欲收购的价格以12.5美元/股计算 (面额的一半)，不包括任何利息 如果ryo板友持有的是普通股的话，基本上这个新闻就可以跳过不看， 如果是特别股的话，就看ryo板友要不要把股份卖回去给NBG 我个人是持有不少的NBG特别股，我也不打算参加这次的tendor offer。原因如下 1. NBG已经开始获利，而法律上规定如果有连续获利(忘记多久)的话，就必须要发股息 假设tender offer过後价格维持在12.5，他的殖利率也有18% 2. 目前特别股的价位已经来到12.44，NBG如果真的要用12.5收购，直接在市场收购即可 另一方面，12.5这个价位一点也不迷人，才面额的一半.... 3. 由於是在US发行的特别股，哪天NBG不爽要CALL回所有的特别股，他一定非得用面额买 我这笔资金是打算长期投资，我可以等 4. 等到NBG开始发股息後，我相信它的价位会相当快的回到20块以上 参考看看搂 我个人是认为: Hold ※ 引述《ryosaiba (秋天的风)》之铭言： : 有关近日NBG的ADS的新闻 小弟有点搞不太懂新闻的意思 : 想跟大家请教一下 恳请大家指教 : ------------------------------------------------------------------------ : ATHENS, May 31, 2013 /PRNewswire/ -- National Bank of Greece S.A. (the Bank) : announces today that it has launched an offer to purchase for cash up to : 22,500,000 of the outstanding 25,000,000 American Depositary Shares (ADS : CUSIP 633643507) (each, an "ADS" and collectively, the "ADSs"), each : representing one of its Non-Cumulative Preference Shares, Series A, nominal : value EUR0.30 per share (the "Preference Shares"), upon the terms and subject : to the conditions set forth in the Offer to Purchase dated May 31, 2013 (the : "Offer to Purchase") and the accompanying Letter of Transmittal (the "Letter : of Transmittal"), which, as each may be amended and supplemented from time to : time, constitute the offer (the "Offer"). On the terms and subject to the : conditions of the Offer, the Bank is offering to pay $12.50 per ADS net to : the seller in cash, less any applicable withholding taxes and without : interest, after deduction of any other applicable fees and taxes, for ADSs : validly tendered and not validly withdrawn (the "Tender Offer : Consideration"). : 这段的主要意思是否为NBG打算用二千二百五十万美元购买二千五百万的ADS : 且每股ADS为0.3欧元?还是每股ADS以12.5美元来购买呢?? : The Offer aims to generate Core Tier 1 capital for the Bank and to further : strengthen the quality of its capital base. : The Bank will purchase up to 22,500,000 ADSs. If more than 22,500,000 are : validly tendered and not validly withdrawn, the ADSs tendered will be : purchased on a pro rata basis. As of May 30, 2013, there were 25,000,000 ADSs : outstanding. All of our outstanding Preference Shares are represented by : ADSs. The offer is not conditional on any minimum number of ADSs being : tendered or the availability of any financing. However, the Offer is : conditional on certain conditions, as set out in the Offer to Purchase. : The Offer and withdrawal rights will expire at 12:00 midnight, New York City : time, on Friday, June 28, 2013 (being the end of the day on June 28, 2013), : unless the Bank extends the offer (such time and date, as the same may be : extended, the "Expiration Time") and subject to the absolute right of the : Bank, in its sole discretion and in accordance with applicable law, to : terminate or amend the Offer at any time. Holders of ADSs ("ADS Holders") may : validly withdraw tendered ADSs at any time prior to the Expiration Time. Any : ADSs validly tendered and not validly withdrawn prior to the Expiration Time : may not be withdrawn unless the Bank extends the Expiration Time or is : otherwise required by law to permit such withdrawal. : 这段的主要意思是否为2013.6.28为最後交易日 如果没有卖出的话 就由NBG收购 : 且不再得以交易 除非NBG另开设另一段期间 : Settlement is expected to occur on July 3, 2013 (the "Settlement Date"), : subject to the rights or obligations of the Bank to extend or amend the : Offer. : The Bank will submit for cancellation any ADSs purchased pursuant to the : Offer, and will cancel the Preference Shares represented thereby, subject to : the requisite corporate approvals for cancellation of the Preference Shares. : The Bank will publicly announce no later than 9:00 a.m., New York City time, : on the first business day following the Expiration Time the results of the : Offer, the aggregate number of ADSs accepted for purchase by the Bank, the : satisfaction or waiver of the Offer conditions and the proration factor, if : applicable. : 这段的主要意思是否为如果没在2013.6.28前卖掉的ADS 将於2013.7.3注销 : --------------------------------------------------------------------------- : 心得: : 1.就整篇新闻来看 NBG的ADS到底是NBG以每股0.3欧元来购买?还是以12.5美元来购买呢?? : 小弟英文不是很好 就这篇的写法 意思认定上的不同将会造成不同的判断 : 2.如果ADS没有在交易日前卖掉的话 是否会转换成NBG的优先股呢? : 如果是的话 的确是可以常抱的标的 但是如果不是的话 赶快离开才是上策 : 最後 请各位术有专攻的版友们 麻烦提供一下意见 或者讨论 交流一下意见 : 感激不尽 --

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