The upgrade is especially important for NLB, which is, according to our sources, on the verge of privatization. Based on unofficial but credible information, the European Commission may approve the request of the Slovenian government for privatization as early as the beginning of next week, most likely on Tuesday. The government's request calls for a gradual privatization of NLB – 50 percent by the end of the year, followed by another 25 percent in 2018.

If Brussels approves changes to existing pledges, the Slovenian Sovereign Holding (SDH) would have to issue an intention to float no later than next Friday – if it wants to sell NLB in the spring rather than in the fall. The publication of a prospectus that would include the price range, due dates, the list of participants in the sale, and similar information, would follow shortly.

According to unofficial information, the prospectus is ready and is waiting only for the announcement of the intention to float. It will have to be confirmed by the SDH and approved by the board of supervisors, as well as the amendment and the trustees of NLB. Finally, it will be analyzed by the regulator, the Securities Market Agency (ATVP).

The government wants a billion euros
The hour of truth will follow. Those collecting the offers to purchase – two international and two Slovenian companies – will check the amount of interest from potential investors for the purchase of NLB, given the specified price range, in major financial centers, probably London, New York, and Frankfurt. Based on this, the final price will be determined. As has been reported, the government wishes to sell NLB at its nominal bookkeeping price, which would bring in at least a billion dollars. However, comparable banks in the EU are currently being sold for lower prices.

A. Č., Urška Jereb Brankovič, Radio Slovenija
Translated by J. B.