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Slovenian government to confirm price range for NLB bank IPO
June 1, 2017 / 4:16 PM / 6 months ago

Slovenian government to confirm price range for NLB bank IPO

LJUBLJANA, June 1 (Reuters) - Slovenian privatisation coordinator Slovenian Sovereign Holding (SDH) has asked the government to confirm a price range for the initial public offering (IPO) of Slovenia’s largest bank Nova Ljubljanska Banka, SDH said on Thursday.

The government is expected to decide on the matter next week.

Slovenia has obliged itself to sell 75 percent of NLB in exchange for European Commission’s approval of state aid to the bank in 2013.

It plans to sell 50 percent of NLB this year and another 25 percent in 2018, while the government will keep the rest of the bank to have a say in key business decisions.

According to local media, the government hopes to get at least 1 billion euros for 75 percent of NLB.

Earlier this week Finance Minister Mateja Vranicar Erman offered to quit over a possible delay in the NLB sale but Prime Minister Miro Cerar did not accept her resignation.

Reporting By Marja Novak, editing by David Evans

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