Slovenian Minister of Finance revealed price of NLB Bank's shares

Franc Krizanic, the Slovenian Minister of Finance, has unexpectedly revealed in advance the price of shares of Nova Ljubljanska Banka in the forthcoming recapitalization.

Krizanic has disclosed the sensitive information that the price of shares of Nova Ljubljanska Banka in the forthcoming recapitalization will amount to EUR 116 per share.

The media in Slovenia warn that, pursuant to the Law on market of financial instruments, that price can be publicly announced only after the Securities Agency confirms the recapitalization prospectus. They also say that the Supervisory Council of Nova Ljubljanska Banka should make the decision on the price of shares in the process of recapitalization on February 10.

According to current plans, the first round of recapitalization should start in the second half of February. The Minister of Finance once stated that the talks between the Government of Slovenia and Goldman Sachs Group about the possibility of acquisition of a stake in Nova Ljubljanska Banka were in their "early" phase. David Wells, the spokesperson of Goldman Sachs Group in New York, refused to comment on the words of the Slovenian Minister of Finance.