LJUBLJANA (Slovenia), December 5 (SeeNews) – Slovenia’s second-largest bank by assets, Nova Kreditna Banka Maribor (NKBM), plans to start trading its shares on the Ljubljana Stock Exchange (LJSE) on December 10, the bank said on Wednesday.
“It is planned that trading in NKBM shares, which were accepted for trading on the LJSE on November 29, will start on December 10, 2007,” the bank said in a statement.
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The LJSE said last week it expects trading in NKBM's shares to start on December 6.
On Tuesday the Slovenian government said it had set the final price of the initial public offering (IPO) of NKBM at 27 euro ($39.48) per share, at the very top of the indicated price range. The NKBM IPO will be the first to be held on the LJSE in eight years. It is expected to attract investors hungry for new listings and stir the stagnating bourse, analysts have said.
The government will sell to small shareholders 24% of NKBM’s shares which the IPO prices at 151.35 million euro. Another 10.19% worth 64.25 million euro will be sold to local institutional investors, and 14.81% worth 93.41 million euro to foreign institutional investors.
Slovenia launched NKBM’s IPO on November 19 and the Finance Ministry set the price range between 20.5 euro and 27.0 euro per share. The government owns 100% of NKBM directly and indirectly through state-run investment funds SOD and KAD.
NKBM controls around 10% of Slovenia's banking market of two million people.
($ = 0.68 euro)