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Bosnian insurer Camelija to double share capital

Bosnian insurer Camelija to double share capital License: Creative Commons CC0

SARAJEVO (Bosnia and Herzegovina), November 24 (SeeNews) - Bosnian insurer Camelija said on Wednesday it plans to raise 4 million marka ($2.3 million/2 million euro) through a new share issue, which will double its registered capital.

The insurer intends to issue 2,500 ordinary shares of 1,600 marka in par value each through a private placement, it said in a bourse filing.

The investor, whose name remained undisclosed, will own a 53.92% stake in Camelija after the capital increase.

The insurance supervision agency of Bosnia's Federation has already approved the proposed capital hike, Camelija said.

Camelija's share capital amounted to 4 million marka as of December 31, 2020, its latest annual financial statement showed. Local vehicle inspection service provider Cavkic was Camelija's largest shareholder with a 64% stake as of that date, followed by local hotel operator Aduna with 19.92% interest.

(1 euro = 1.99583 marka)