Clifford Chance has advised Nova Ljubljanska banka d.d., Ljubljana on its public offering and listing on the London and Ljubljana Stock Exchanges.
According to Clifford Chance, the public offering of Nova Ljubljanska banka (NLB) shares is the largest European banking public offering in 2018, the largest European privatization public offering since 2017, and the largest ever Slovenian public offering.
The offering comprised of the sale by the shareholder, the Republic of Slovenia, of existing NLB shares representing 59.1 percent of NLB’s issued share capital, equating to an offer size of EUR 608.6 million, before any exercise of the over-allotment option.
The offering was composed of a public offering in Slovenia and an international private placement to institutional investors, including in the United States to qualified institutional buyers in reliance on Rule 144A, and included a listing of NLB’s ordinary shares on the Ljubljana Stock Exchange and a listing of global depository receipts representing NLB's ordinary shares on the London Stock Exchange.
NLB is banking and financial group in Slovenia. In addition to its Slovenian operations, NLB operates through six subsidiary banks in Bosnia and Herzegovina, Kosovo, Macedonia, Montenegro, and Serbia.
The Clifford Chance team was led by London-based Partner Adrian Cartwright on UK ECM matters and Paris-based Partner Alex Bafi on U.S. securities law matters, supported by London-based Senior Associate Benjamin Morgan and Associate James Koessler and Paris-based Counsel Olivier Plessis and Associate Ryan Bosch.
Editor's Note: After this article was published Clifford Chance informed CEE Legal Matters that the Joint Global Coordinators and Joint Bookrunners were Deutsche Bank and J.P. Morgan, with Citigroup also involved as a Joint Bookrunner, the Co-lead Manager was Wood & Co, and the Domestic Co-lead Manager was NLB. They were advised by Shearman & Sterling LLP, with its team consisting of London-based Partners David Dixter and Pawel Szaja and Counsel Jonathan Handyside