A trio of chunky IPOs from emerging Europe met with a mixed reception from wary investors in London in early November.
To the surprise of many in the market, two long-promised privatizations – of Slovenian lender NLB and uranium producer Kazatomprom – made it across the line, while a leading private-sector retailer had to postpone its listing.
On November 9, the Slovenian government finally delivered on commitments to the European Commission, made at the time of a state bailout of the country’s leading banks in 2013, to sell more than half of market leader NLB.
A previous listing attempt in June 2017 was cancelled when politicians rejected the proposed minimum offer price – which valued the bank at €1.1
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