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LKPG - Luka Koper Dd News Story

€21.4 0.6  2.9%

Last Trade - 10:56am

Sector
Industrials
Size
Small Cap
Market Cap £247.5m
Enterprise Value £260.7m
Revenue £181.7m
Position in Universe 126th / 646

UPDATE 1-Slovenia postpones NLB sale presentations due to Brexit

Mon 4th July, 2016 11:59am
(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
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