After selling a 65% stake in Slovenia’s largest bank in an initial public offering of shares last year, the state now launched the procedure to sell a further 10% of NLB shares to qualified investors.
Slovenian Sovereign Holding announced it had launched a proposed placement of up to 1,999,999 ordinary NLB shares, representing 10% of the bank’s existing share capital minus one share, “by way of an accelerated bookbuild process to certain institutional investors in the form of shares and global depositary receipts representing shares”.
The state needs to reduce its stake to 25% plus one share under commitments given to the European Commission as it approved a EUR 1.56 billion state aid for the bank in late 2013.
Source: STA
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