The outgoing Slovenian government has announced its plans to sell NLB, the country’s largest state-owned bank.
The state, represented by the Slovenian Sovereign Holding (SDH), and NLB announced the intention to sell at least 50% stake in the bank. Slovenia will sell shares on the stock exchanges in London and Ljubljana. A total of 90 percent of the shares will be bought by institutional investors, the remainder will be available to retail investors.
NLB is in good condition. Ratings agency Standard & Poor’s has the long-term issuer default rating (IDRs) for the bank at BB.NLB’s strategy is to increase its profitability from 7% to 10% in the future and to lower costs compared to revenues.
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