Croatia's Professio Energia to raise capital

Croatian renewable energy company Professio Energia [ZSE:DLPR] plans to increase its capital by up to 160.4 million kuna ($23.9 million/21.3 million euro), it said.

The company intends to issue up to 1,604,478 new ordinary shares, each with a par value of 100 kuna and issue price of 268 kuna, Professio Energia said in a filing to the Zagreb bourse.

The capital increase will be considered successful if at least 1,484,478 new shares are subscribed for. Only shareholders on record as of October 29 will be eligible to subscribe for new shares. The subscription is open from November 24 to December 12.

The company's current equity capital of 66.2 million kuna is divided in 661,696 shares with a par value of 100 kuna each. The shares 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.

(1 euro = 7.521 kuna)

Choose your newsletter by Renewables Now. Join for free!