€21.4 0.6 2.9%
Last Trade - 10:56am
Market Cap | £247.5m |
Enterprise Value | £260.7m |
Revenue | £181.7m |
Position in Universe | 126th / 646 |
(Adds quotes, analyst, trade union) By Marja Novak LJUBLJANA, July 4 (Reuters) - Slovenia has postponed investment road shows for the sale of its largest bank, Nova Ljubljanska Banka (NLB), due to increased market volatility caused by Britain's vote to leave the European Union, Slovenian Sovereign Holding (SDH) said on Monday. SDH, which manages state assets and coordinates the privatisation process, said the NLB initial public offering (IPO) should still be completed by the end of 2017 as planned. "The result of the referendum in Great Britain led to greater volatility on the financial markets," SDH said in a statement, adding that roadshows, which were initially planned for July, should be postponed until financial markets are calmer. NLB is the largest of about 30 companies whose sale is due to start this year. Deutsche Bank DBKGn.DE is advising SDH on the sale. ID:nL5N18935R "Brexit caused bank shares across Europe to fall. It is still possible that the sale of NLB will be completed as planned, but Brexit certainly hurt those plans," said Saso Stanovnik, chief economist at Alta Invest. One Slovenian trade union last week called on the government to stop the sale of NLB, saying that the time was not right due to the low price of bank shares in the EU. SDH also told Reuters that its privatisation plans remain on track despite Friday's resignation of its chief executive, Marko Jazbec. urn:newsml:reuters.com:*:nL8N19N2A7 Jazbec resigned over a dispute regarding the management of state-owned port Luka Koper LKPG.LJ . It is not clear when the new head of SDH will be nominated. (Reporting by Marja Novak, editing by Louise Heavens) ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters Messaging: marja.novak.thomsonreuters.com@reuters.net)) Keywords: SLOVENIA PRIVATISATION/NLB