LJUBLJANA, May 15 (Xinhua) -- The Slovenian Sovereign Holding (SSH) and the Nova Ljubljanska Banka (NLB) on Monday published an intention for an initial public offering (IPO) of at least 50 percent of the bank's shares on the Ljubljana and London stock markets.
The IPO, which has earlier been approved by SSH supervisors, is expected to be concluded by mid-June, the Slovenian Press Agency (STA) reported, quoting a press release announced by NLB.
Small investors in Slovenia will first be offered 10 percent of the available shares, and the remaining 90 percent will go to institutional investors, said the release.
"We are proud that we have arrived at this point in the state asset management strategy," SSH chairman Lidia Glavina was quoted by STA as saying. She added that NLB was ready for a new period of private ownership.
NLB chairman Blaz Brodnjak expressed satisfaction with the NLB management getting an opportunity to take the bank to a next phase of its development in international ownership.
"We managed to achieve some good results in the recent years and we are looking forward to the new period after the privatisation concludes," he said when commenting on the IPO launch.
The privatisation of at least half of the state-owned bank, which was approved by the European Commission in return for the 2013 state aid, is being steered by SSH, according to the STA report. Enditem
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