October 23, 2018 / 3:09 PM / a month ago

Slovenia plans to announce price range for NLB bank on Friday

LJUBLJANA, Oct 23 (Reuters) - Slovenia plans to announce the price range of the IPO of its largest bank, state-owned Nova Ljubljanska Banka (NLB), on Friday, the head of the Slovenian Sovereign Holding (SDH), which is coordinating the privatisation, said on Tuesday.

“We expect the dispersed ownership will enable effective management of the bank in the long term and its competitive development,” Lidija Glavina told a news conference.

The country plans to sell between 50 and 75 percent of NLB and list the bank on London and Ljubljana stock exchanges. The state will keep 25 percent of NLB in order to have a say in key business decisions.

According to unofficial information, reported by state-owned Radio Slovenia, the government expects to sell the bank at a price that would value the whole bank at between 1.06 billion and 1.5 billion euros ($1.21 billion and $1.72 billion). ($1 = 0.8729 euros) (Reporting By Marja Novak; editing by David Evans)

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