News

NLB order book reportedly full, price at bottom of range

Ljubljana/London, 08 November (STA) - The order book for the initial public offering of NLB bank is full as institutional investors submitted offers for the entire issue on offer, but the price is at the bottom of the range, at EUR 51.5 per share, Bloomberg reported on Thursday.


The report comes just as the order book is about to close - orders by institutional investors are due by 3 PM on Thursday - and a day before the IPO price is scheduled to be revealed.

The IPO price was set at EUR 51.5-66 and the number of shares on offer from 50% to 75% minus one share, with the final price and number of shares subject to demand.

Retail investors had until Wednesday to subscribe the shares; 10% of the issue on offer was set aside for them.

If the Bloomberg price proves to be correct, the treasury would get roughly EUR 772m for 75% of the bank, well below expectations and significantly less than in an aborted IPO in 2017.