Shearman & Sterling advised the underwriters, Deutsche Bank AG, London Branch, J.P. Morgan Securities plc, Citigroup Global Markets Limited and WOOD & Company Financial Services a.s., on the up to €669.5 million IPO and privatization of Nova Ljubljanska banka d.d., Ljubljana on the Ljubljana Stock Exchange and the London Stock Exchange. The transaction, which closed on November 14, is the largest European banking IPO in 2018 to date and the largest ever Slovenian IPO.
NLB is the largest banking and financial group in Slovenia.
The Republic of Slovenia, acting through Slovenski državni holding d.d., sold 59.1 percent of its holdings in NLB (before the exercise of the over-allotment option). The transaction resulted in the admission to trading of NLB's shares on the Ljubljana Stock Exchange (Prime Market) and the admission of global depositary receipts (representing NLB's shares) to trading on the London Stock Exchange.
The Shearman & Sterling team below also included associate Eunjee Chae and was supported by secondee Nkosinathi Tshabalala.