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The Warsaw Voice » Business » March 31, 2011
Business & Economy
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Slovenian Bank to List on WSE
March 31, 2011   
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Nova KBM, the second-largest bank in Slovenia, is planning to list on the Warsaw Stock Exchange this spring.

Prior to the Warsaw debut, Nova KBM will increase its equity capital by issuing 13 million shares. The bank is listed on the Ljubljana Stock Exchange with equity capital of 26 million shares, half of which are traded on the exchange. Given the current market price of Nova KBM shares, at 10.4 euros per share in mid-February, the offering is valued at 130 million euros. “The current share price is low due to the poor liquidity of the Ljubljana Stock Exchange,” said Matjaz Kovacic, president of the management board of Nova KBM. Better liquidity is one reason Nova KBM plans to enter the Warsaw bourse, aiming for institutional investors in Poland.

“We are planning to issue shares and enter the Warsaw Stock Exchange by the middle of the second quarter of this year,” said Kovacic. The shares will be issued along with a rights issue, but the government of Slovenia, which holds 41 percent of shares in the bank, is ready to resign from the rights issue. Proceeds from the shares issue will help the bank expand in the Balkan region and consolidate companies of the Nova KBM group.

“The development strategy aims to move the bank from 12th to 5th position among banks in the Balkan region,” said Kovacic.

Nova KBM is no. 2 in Slovenia in terms of the volume of deposits and loans. It has over 350,000 retail customers and over 10,000 corporate customers. In Slovenia, the Nova KBM group has 100 branches, including six branches of the Post Bank of Slovenia (PBS). Apart from the retail chain, access to banking services is provided by 550 PBS postal service outlets.

Apart from Nova KBM and PBS, the Nova KBM group consists of Adria Bank in Vienna, Credy banka in Serbia, the Zavarovalnica Maribor insurer, investment and pension funds called Moja nalozba and KBM Infond, KBM Leasing, Gorica Leasing and Multiconsult Leasing companies in Croatia, and real estate companies called KBM Fineko, KBM Invest and KBM Projekt in Croatia. At the end of the third quarter of 2010, the Nova KBM group’s assets totaled 5.9 billion euros, 4.8 billion euros of which were assets of the Nova KBM bank.
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