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Dec 18, 2007 20:21 EEST
LJUBLJANA (Slovenia), December 18 (SeeNews) – Slovenian stock indices rose in higher turnover on Tuesday with shares in Nova Kreditna Banka Maribor (NKBM), the country’s second largest bank by assets, rising by almost a further two percent, brokers said.
The Slovenian blue-chip SBITOP index added 0.82% to close at 2,522.11, while the broader 15-share SBI20 index gained 0.7% to 11,394.26.
“In general it was a good day on the bourse today [...] NKBM is still in the forefront,” Marko Jovic, an analyst with local bank Abanka Vipa, told SeeNews.
NKBM gained 1.71% to an average price of 41.07 euro ($60.05) in the day’s highest turnover of 3.235 million euro. NKBM shares have gained 12.18% since last Monday, when they started trading on the Ljubljana Stock Exchange (LJSE), but are not yet part of either index.
Earlier this month the Slovenian government set the final price of NKBM's initial public offering (IPO) at 27 euro per share, at the very top of the indicative price range. The IPO was the first held on the LJSE in eight years and market analysts expected it would energise the stagnating bourse.
“It is a question what will happen with NKBM. It is already a high price,” Jovic said, adding that the current market price was not justified. “The thin market, limited offer of shares and low turnover contributed to the rise in the NKBM share price,” he said.
The country’s largest retailer, Mercator, was the biggest gainer among the blue chips, rising 3.23% to 328.12 euro. Energy-to-tourism holding firm Istrabenz was the biggest loser among the blue chips, falling 2.5% to 100.33 euro.
Total turnover rose to 12.37 million euro from 11.13 million on Monday.
($ = 0.68 euro)
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