Business News

NKBM Warsaw Issue Price Range Set at 8-10.5 Euros Per Share

Maribor, 01 April (STA) - NKBM bank will issue fresh shares on the Warsaw Stock Exchange at a price between EUR 8 and EUR 10.5 per share, according to the prospectus which was confirmed Friday by the Slovenian and Polish stock market regulators. Subscription starts Monday and the stock will be floated in Warsaw in May, NKBM said.

NKBM has said it plans to issue 13 million shares, putting the value of the issue between EUR 104m and 136.5m.

The bank is seeking a secondary listing in order to get access to a wider circle of investors.

It said today the fresh funds will ensure continued support for its business plans and projects of Slovenian businesses.

The capital hike means the state's stake will shrink from the current 41.5% (two para-state funds own another 9.58%).

Prime Minister Borut Pahor said recently that the government was willing to give up priority right in NKBM in favour of foreign or domestic investors.

NKBM finished 2010 with a profit of EUR 11.4m, but its profit before provisions and impairments stood at EUR 101m.

NKBM closed 0.30% lower to EUR 10.13 on the Ljubljana Stock Exchange today.

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