Business News

NKBM Wraps Up Capital Increase, Collects EUR 104.3m

Maribor, 26 April (STA) - Slovenia's second biggest bank, NKBM, said on Tuesday it had successfully concluded its capital rise, selling all the 13 million newly issued shares and collecting the announced EUR 104.3m.

The capital rise has increased the number of NKBM shares to 39,122,96, while the bank's share capital has increased to EUR 40.814m.

Trading with the newly issued shares will begin on the Ljubljana and Warsaw stock markets as soon as all formal procedures are concluded. NBKM expects this to happen in mid-May.

The capital increase in NKBM, following which the state preserved its 51% stake, stirred Slovenia in the past weeks, also because of the decision of state-controlled Capital Assets Management Agency to have three state companies participate despite a different position held by Economy Minister Darja Radic.

The three companies - power utility Gen Energija, national grid operator ELES and postal company Posta Slovenije - reportedly contributed around EUR 47.5m in the first round of subscriptions, which saw existing shareholders buy EUR 64.45m worth of shares.

EUR 39.87m worth of shares or a total of 2,718,000 of shares at EUR 8 per share were bought in the second round by small and institutional investors.

2,718,000 shares went to Polish institutional investors, 1,97,568 to institutional investors in other European countries, 59,454 to small Polish investors, and 228,345 to small Slovenian investors.

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