Next Step in the Sale of NLB

Next Step in the Sale of NLB

As previously reported, the largest Slovenian bank is to be sold by the end of 2018.

On 15 October 2018, The Republic of Slovenia, acting through Slovenian Sovereign Holding (“SSH”), and Nova Ljubljanska banka (“NLB”) announced the intention to proceed with an offering to the public and listing of NLB’s ordinary shares on the Ljubljana Stock Exchange and of the global depositary receipts representing NLB’s ordinary shares on the London Stock Exchange. The offer refers to at least 50% of the existing shares plus one share and up to 75% of the existing shares less one share.

On 26 October 2018, SSH and NLB published the prospectus offering shares and global depositary receipts (“GDRs”) to the public in the Republic of Slovenia and admission to trading on regulated markets in the Republic of Slovenia and the United Kingdom.  For more information, click here.

The price range was determined by the Supervisory Board of the SSH based on the non-binding offers from the road shows: the upper level is set at 0.86 times the book value of the NLB Group (or EUR 66), while the lower one at 0.67 times the book value (EUR 51.5). The final sale price of the share will be formed on the basis of the orders from institutional investors, presumably by 9 November.

 

As previously reported, the largest Slovenian bank is to be sold by the end of 2018.

On 15 October 2018, The Republic of Slovenia, acting through Slovenian Sovereign Holding (“SSH”), and Nova Ljubljanska banka (“NLB”) announced the intention to proceed with an offering to the public and listing of NLB’s ordinary shares on the Ljubljana Stock Exchange and of the global depositary receipts representing NLB’s ordinary shares on the London Stock Exchange. The offer refers to at least 50% of the existing shares plus one share and up to 75% of the existing shares less one share.

On 26 October 2018, SSH and NLB published the prospectus offering shares and global depositary receipts (“GDRs”) to the public in the Republic of Slovenia and admission to trading on regulated markets in the Republic of Slovenia and the United Kingdom.  For more information, click here.

The price range was determined by the Supervisory Board of the SSH based on the non-binding offers from the road shows: the upper level is set at 0.86 times the book value of the NLB Group (or EUR 66), while the lower one at 0.67 times the book value (EUR 51.5). The final sale price of the share will be formed on the basis of the orders from institutional investors, presumably by 9 November.