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Business news in Slovenia

Stock market wants less state ownership

Ljubljana, 26 March (STA) - The chairman of the Ljubljana Stock Exchange operator Aleš Ipavec called on the state on Tuesday to help develop Ljubljana from a frontier market to an emerging market by listing a major state-owned firm, or divesting from existing listed firms.

Much progress towards this goal would be achieved if at least 30% of motorway company DARS was listed. The state could also reduce its holdings in listed companies such as insurer Zavarovalnica Triglav, port operator Luka Koper and Telekom Slovenije.

"This does not constitute a sell-off of the family silverware," Ipavec said.

NLB bank, where the state retained a 25% stake plus one share, could serve as a role model for that, according to the bank's chairman Blaž Brodnjak.

The state has retained control of strategic decisions, but at the same time diverse investors bring bigger ambitions and independent corporate governance, according to him.

Brodnjak believes that the state should list not 30% but 75% minus one share of DARS, along with power utilities Gen Energija and HSE.

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