July 5 (SeeNews) - Slovenian state holding company SDH said it has decided to postpone due to market volatility caused by the UK's vote to exit the EU the non-deal roadshow in the sale of the country's biggest lender Nova Ljubljanska Banka (NLB) until a later period when financial markets have returned to a more stable state.
The roadshow, which was previously planned to take place in July, has been delayed, but the timeline for the envisaged activities in regard to the sale of NLB will not be changed as the adopted time frame allows sufficient room for the normalization of market conditions and for good quality preparation, SDH, which is coordinating the privatization process in Slovenia, said in a statement on Monday.
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"To this extent, all legal advisors have now been appointed and preparatory activities continue as originally planned. Notwithstanding the above, some previously planned meetings with potential cornerstone investors will be organised to take the investor interest forward," SDH noted.
In May, the holding company said an initial public offering (IPO) has been assessed as the most appropriate method for the privatisation of NLB.
The sell-off process is not expected to start before the autumn and its completion is seen by the end of 2017, SDH said at the time.
NLB was one of two Slovenian banks - alongside NKBM, to show a minor capital shortfall under the adverse scenario of the stress test conducted by the European Central Bank in October 2014.
In December 2013, the Slovenian government had to step in and recapitalize the country's three biggest lenders - NLB, NKBM and Abanka, narrowly avoiding an international bailout.