ZAGREB (Croatia), February 20 (SeeNews) – Croatian renewable energy company Professio Energia [ZSE:DLPR] said that it has opened subscription for a new share issue through which it plans to raise 10.1 million euro ($10.5 million) from existing shareholders.
The first round of subscription ends on March 5, Professio Energia said in a filing to the Zagreb bourse on Wednesday.
The company will issue 220,000 new shares at a price of 46 euro per share, as the difference between the nominal value of 13 euro each and the subscription price will be allocated to capital reserves.
Professio Energia’s capital totals 34.01 million euro, distributed in 2,616,174 shares. After the capital increase, its capital will be 36.87 million euro.
The shareholders will be able to subscribe for new shares proportionately to the stake they currently hold in the company. If any shares are left unsubscribed after the first round, they will be offered to the shareholders that participated in the first round, or managers of pension and insurance funds that also manage funds that participated in the first round.
The issue will be considered successful if shareholders subscribe all of the new shares.
The proceeds from the new share issue will be used to achieve the company’s business and investment goals, it said earlier.
The shares of Professio Energia are listed on the Zagreb Stock Exchange (ZSE) but have not traded in the past 52 weeks.
Local pension insurance fund Erste Plavi OMF category B controls 50.67% of the company, followed by pension fund PBZ Croatia Osiguranje OMF category A and B with some 28% and insurer Croatia Osiguranje with some 18%, ZSE data showed.
($ = 0.959 euro)