Off the wire
• Bremen extend deal with coach Nouri  • 2nd LD Writethru: Two dead in small private jet crash in New Jersey, U.S.  • Schalke confirm second China tour  • Foreign exchange rate of euro to other currencies  • Germany mulls withdrawing troops stationed in Turkey: official  • Electric power to benefit 25 mln Mozambicans by 2030  • Britain to arrest criminal behind NHS cyber attack: Home Secretary  • Oil prices keep rising on production cut optimism  • Spotlight: Turkey-U.S. ties in spotlight as Erdogan faces tough talks with Trump  • Chicago agricultural commodities settle mixed  
You are here: 　 Home

Slovenia's NLB bank publishes IPO intention for privatization

Xinhua, May 15, 2017 Adjust font size:

The Slovenian Sovereign Holding (SSH) and the Nova Ljubljanska Banka (NLB) on Monday published an intention for an initial public offering (IPO) of at least 50 percent of the bank's shares on the Ljubljana and London stock markets.

The IPO, which has earlier been approved by SSH supervisors, is expected to be concluded by mid-June, the Slovenian Press Agency (STA) reported, quoting a press release announced by NLB.

Small investors in Slovenia will first be offered 10 percent of the available shares, and the remaining 90 percent will go to institutional investors, said the release.

"We are proud that we have arrived at this point in the state asset management strategy," SSH chairman Lidia Glavina was quoted by STA as saying. She added that NLB was ready for a new period of private ownership.

NLB chairman Blaz Brodnjak expressed satisfaction with the NLB management getting an opportunity to take the bank to a next phase of its development in international ownership.

"We managed to achieve some good results in the recent years and we are looking forward to the new period after the privatisation concludes," he said when commenting on the IPO launch.

The privatisation of at least half of the state-owned bank, which was approved by the European Commission in return for the 2013 state aid, is being steered by SSH, according to the STA report. Endit