ATHENS, Oct 3 (Reuters) - Greece concluded on Thursday

the re-privatisation of its lenders with the sale of a 10% stake

in National Bank (NBG) amid strong demand from investors, the

bank bailout fund said.

The sale raised 690 million euros ($760.93 million), which

will be used to help Greece reduce its pile of public debt, the

euro zone's biggest as a percentage of economic output.

The Greek state-controlled bank bailout fund HFSF sold 91.4

million shares in National Bank, Greece's second largest by

market value, for 7.55 euros per share, through a book-building

process and a public offer in Greece which ended on Wednesday.

The valuation was at the middle of the initial pricing

indication of 7.3-7.95 euros a share, the fund said in a press

release.

"There was strong demand from foreign and domestic investors

with the offering oversubscribed by 12 times," an official

involved in the process told Reuters on condition of anonymity.

HFSF, which was launched in 2010, began divesting its stakes

in Greece's four largest lenders last year after injecting about

50 billion euros to prop them up in return for shares during the

2009-2018 debt crisis.

Following the sale, HFSF will transfer a remaining 8.4%

stake in National Bank to Greece's sovereign wealth fund.

HFSF sold its stakes in Eurobank, Alpha Bank

and 22% of National Bank late in 2023, after Greece

won back its investment grade credit rating, and 27% in Piraeus

Bank earlier this year.

The move was seen by investors as a sign of Greece's

economic recovery, although many ordinary Greeks are still

suffering the long-term effects of the crisis.

Shares are likely to be allocated later on Thursday.

J.P. Morgan, Goldman Sachs ( GS ), UBS, BofA Securities, BNP

Paribas, Citigroup Global Markets and Deutsche Bank acted as

joint bookrunners.

($1 = 0.9068 euros)