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NLB shares generate more than half of Ljubljana bourse total turnover upon debut

NLB shares generate more than half of Ljubljana bourse total turnover upon debut Author: Ljubljana Stock Exchange Rights: All rights reserved

LJUBLJANA (Slovenia), November 14 (SeeNews) – Shares of Nova Ljubljanska Banka [LJE: NLB] generated a trading volume of 2.9 million euro ($3.3 million) upon their debut on the Ljubljana Stock Exchange (LJSE) on Wednesday, accounting for more than half of the bourse's total daily turnover, bourse data shows.

Nova Ljubljanska Banka closed at 56.65 euro on LJSE, as 51,174 shares changed hands.

Also on Wednesday, the NLB's global depositary receipts (GDRs) were admitted to trade on the London Stock Exchange's (LSE) main market for listed securities. The GDRs, representing NLB's shares, traded at 11.55 euro by 16:34 CET.

Last week, Slovenia sold 59.1% of NLB's issued share capital in an initial public offering (IPO) at 51.50 euro ($58.77) per share as part of the privatisation of the bank agreed between the government and the European Commission.

The IPO came in response to the commitment of Slovenia undertaken as part of the restructuring plan of NLB agreed with the European Commission under state aid procedure in 2013. Back then, the Slovenian government stepped in to recapitalise NLB and two other lenders - NKBM and Abanka, narrowly avoiding an international bailout. The same year, Slovenia committed to the European Commission to sell part of NLB within four years.

Total trading turnover on the LJSE increased to 4.4 million euro on Wednesday from 491,950 euro on Tuesday.

Drug maker Krka [LJE:KRKG] fell the most among the blue chips on the LJSE on Wednesday.

Krka shares ended the session 1.11% lower at 53.6 euro in a trading volume of 21,776 units.

Telekom Slovenije [LJE:TLSG] gained the most among the blue chips, closing 1.79% higher at 68.2 euro.

The SBITOP index, which tracks the most liquid and capitalised stocks on the LJSE, fell 0.26% to 809.64 points.

($ = 0.88823 euro)

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