Shares of Slovenia's NKBM Bank Slump 10% on Capital Hike News

The new shares will be on sale from Wednesday until October 8, NKBM said in a statement to the Ljubljana Stock Exchange (LJSE) on Tuesday. The bank seeks to raise up to 111.15 million euro with the share sale.

The issue price, which was lower than the market price of the bank's shares at the time it was announced, dragged down the NKBM stock by 10% to 20.33 euro on the LJSE on Tuesday, Marko Bolaric, a broker at local Abanka Vipa, told SeeNews. The broader negative market trend also contributed to the fall, he added.

The blue-chip SBITOP index fell 2.3% to 1,462.18 points on Tuesday.

Bolaric said NKBM's price may fall further to the issue price of 19.5 euro on Wednesday.

($ = 0.6765 euro)