Shares of Nova KBM in public offering - EUR 132.4 million net proceeds expected

Nova KBM, the second largest banking group in Slovenia, part of which is also Credy Banka in Serbia, published its prospectus on Monday and began its public offering.

The Company plans to issue up to 13,040,989 shares and raise net proceeds of up to EUR 132.4 million. The proceeds from the issue will be used to finance implementation of the Group’s growth strategy, calling for reinforcement of market position, further international expansion, optimization of management and governance within the Group, and development of innovative distribution channels. A portion of the proceeds will also be used to meet potential new capital adequacy requirements for the banking markets. The Company plans to debut on the Warsaw Stock Exchange in May of this year.

- I expect that the market position of the Group, as well as our growth prospects and our strategy based on building value for shareholders, will be an attractive proposition for stock market investors in Poland and other European countries. The capital increase which we intend to carry out will accelerate the development of Nova KBM and implementation of the Group’s ambitious growth strategy based on strengthening its market position, further foreign expansion, optimizing its management and governance, and developing innovative distribution channels - said Matjaz Kovacic, CEO of Nova KBM d.d.

Nova KBM Group ended the year 2010 with the net revenue of EUR 11.4 million. The results of the group prove that, in spite of the most difficult crisis in last 50 years, it is able to make profit for both itself and its shareholders.