Greek regulator extents short selling ban on bank stocks

10 November 2015
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Greece’s securities regulator announced on Monday it is extending its ban on short selling of Greek bank stocks for another month, due to the ongoing process of recapitalization.

The decision will be implemented on November 10 and will expire on December 7.

In its statement, the Hellenic Capital Market Commission (HCMC) says the ban temporarily prohibits transactions in any shares of Alpha Bank, National Bank, Piraeus Bank, Eurobank and Attica Bank admitted to trading on the Athens Exchange. It will also concern all depository receipts (ADRs, GDRs) representing those shares. The ban includes sales which are covered with subsequent intraday purchases.

“After taking into consideration the fact that the process of recapitalizing lenders is underway, the Capital Market Commission’s governing council decided to continue the ban on short selling of bank stocks trading in the Athens Stock Exchange and make up the banking index,” the HCMC said.

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