Bosnia's Banjalucka Pivara plans to cut share capital by 88%

The proposal will be put to the vote at an extraordinary shareholders' meeting scheduled for October 20, the company said in a statement last week.

If the plan is approved, Banjalucka Pivara's decreased capital of 2,703,467 marka will be divided into 1,178,655 ordinary shares class A [BANJ:BLPV-R-A] and 1,524,812 ordinary shares class B [BANJ:BLPV-P-B], each of 1.0 marka in par value.

Banjalucka Pivara swung to a net loss of 1.25 million marka in 2019, from a 1.8 million marka profit in 2018, as costs rose faster than revenue.

The brewer's shares last traded on the Banja Luka Stock Exchange on June 13, 2017, closing flat at 1.5 marka, bourse data showed.

(1 euro = 1.95583 marka)