Croatia's Professio Energia raises capital by 160 mln kuna (21 mln euro)

Croatian renewable energy company Professio Energia [ZSE:DLPR] has successfully increased its capital by 160.4 million kuna ($24.1 million/21.3 million euro), it said on Monday.

The capital hike was carried out by subscription of 1,604,478 new ordinary shares, each with a par value of 100 kuna, held from November 23 to December 10, Professio Energia said in a filing to the Zagreb Stock Exchange (ZSE).

The number of issued new shares is at the upper end of the offer. The company said earlier that the issue price will be 268 kuna per share.

Only shareholders on record as of October 29 were eligible to subscribe for new shares. Following the capital increase, the company's equity capital will total 226.6 million kuna divided into 2,266,174 shares of 100 kuna in par value each.

Last week Professio Energia said it has concluded the legal transactions aimed at the acquisition of two companies - PR Global Danilo and Vjetroelektrana Rudine, which own wind farms with a total installed capacity of 77.7MW in southern Croatia.

The shares of Professio Energia were listed on the Zagreb Stock Exchange (ZSE) in October 2019 but have not traded there yet.

Local pension insurance fund Erste Plavi OMF category B controls 50% of the company, followed by pension fund PBZ Croatia Osiguranje OMF category A and B with some 30% and insurer Croatia Osiguranje with a 20% stake, ZSE data showed on Monday.

(1 euro = 7.517 kuna)

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