London—Dentons has advised Slovenski drzavni holding d.d., wholly owned by the government of the Republic of Slovenia, on a share sale and public offer of €608.6 million shares and GDRs in Nova Ljubljanska Banka DD. The GDRs and shares began trading on the London main market and Ljubljana Stock Exchange, respectively, on 14 November 2018.

The company provides universal banking services to retail and corporate clients, as well as asset management, bancassurance and pension products. This was the first phase of NLB’s privatisation during which the government of Slovenia sold 59.1 per cent of the bank in a public offering of shares. The GDRs were issued to institutional investors.

Deutsche Bank and J.P. Morgan acted as joint global co-ordinators, Citigroup as joint bookrunners, and Wood & Company and Nova Ljubljanska Banka as co-lead manager and domestic co-lead manager, respectively.

Nik Colbridge, UK Capital Markets partner who led from Dentons, said, "We are pleased to have advised the selling shareholder on this complex IPO. The success of the transaction, in difficult market conditions, is a significant achievement for the Slovenian State and the Ljubljana Stock Exchange."

In addition to Nik Colbridge, the UK Dentons team which advised on the transaction included Tax partner Alex Tostevin, Capital Markets associate Nicolo Ascione, and Tax associate Kirsten Hunt. Ulčar & Partnerij led on Slovenian law.

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