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FTSE Frontier Market Index to Include Slovenian Bank after IPO

Slovenia’s Nova Ljubljanska Banka (NLB) will be added to the FTSE Frontier Markets Index following its successful initial public offering (IPO) last week, according to index-compiler FTSE Russell.

FTSE released a Formative Notice on Tuesday 20th November confirmed that NLB will be a “fast entry” into the FTSE Frontier Markets Index, with the date of Tuesday 27th November being quoted as the day it will be added to the Index.

FTSE Russell’s announcement on Slovenia’s NLB

Slovenia sold a 59% stake in the bank at €51.5 per share, which has been state-owned since 2013, effectively valuing the company at €1.03bn ($1.17bn). The company was listed on both the Lubjana and London Stock Exchanges Wednesday 14th November.

It is expected that the government will sell up to 75% of the bank by the end of 2019, but will look to retain a portion of shares that will allow it to remain as the largest shareholder.

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About James Eugene (58 Articles)
Interested in many (maybe too many) things. Football, Politics and Emerging & Frontier Markets, to name a few. Twitter: @James_Eugene

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