NLB is being sold to scattered investors, one half this year, and a quarter only next year, thus assuring a larger profit according to the Ministry of Finance. The European Commission obviously agrees, and it has somewhat slackened the extremely strict conditions for sale set for bank rehabilitation three years and a half ago.

The interest in purchase of the NLB remains unknown. "There is not much appetite for purchase of bank shares in Europe," economist Mojmir Mrak claims. He believes that "NLB needs a serious owner, but we will see whether IPO is the correct path."
Mrak expects that among the buyers there will be also some local institutional investors, besides EBRD and IFC: "The experience we have with the NKBM, although the situation was slightly different, caused a certain amount of distrust towards the Slovenian legal system."
Will purchase price go as high as recapitalisation?
The government plans to obtain approximately one billion euros for a 75% share of NLB. The last capital increase cost the taxpayers one billion and a half euros. Are the government expectations too low, insufficient? "I can't say which price would be insufficient, but based on the price NKBM was sold we can see an insufficient price actually does not exist," Mrak added.

According to information we have the management will announce the "intention to float" immediately after the meeting of the SSH supervisory board, thus opening the hunting season for buyers of NLB shares.

L. L., Urška Jereb Brankovič, Radio Slovenija; translated by G. K.