Slovenia's biggest bank, NLB, said on Wednesday it would issue 898,204 new shares at EUR 334 apiece. The EUR 300m issue will increase the bank's share capital by 11.2%, NLB said, adding that the proceedings are to be launched on Thursday for existing shareholders.
If the existing shareholders fail to grab up the entire issue by 30 April at 1 PM, the shares will be offered to the public between 9 May and 29 May until 1 PM. A potential third round of bidding, which would take place between 10 and 16 June by 1 PM, is meant for institutional investors.
In case of a second round, small investors will only be able to buy a limited number of shares. If 100,000 or more shares remain after round one, each investor could buy up to 250 shares. If the number of leftover shares stands at between 50,000 and 100,000, the cap will stand at 40 shares, while the limit will be placed at 20 shares per investor if less than 50,000 shares remain.
The government decided last Thursday that the state, which directly owns 35.41% of NLB, will buy shares worth EUR 106.24m as part of the share capital increase. Part of the money will come from insurer Zavarovalnica Triglav, which will mark the start of integration between the country's top bank and its biggest insurer.
The Belgian KBC financial group, which owns 34% of NLB, said it would not take part in the share capital increase. According to media reports, the US Blackstone investment firm is eyeing KBC's stake.
More articles from this issue:
Archive
|