May 15 (SeeNews) - Bosnian insurer Drina Osiguranje [BANJ:DROS-R-A] said on Monday it will increase its capital by 500,000 marka ($278,026/255,646 euro) to some 8.6 billion marka.
Drina Osiguranje will use undistributed profit from 2022 to increase its capital, it said in a bourse filing.
The company will issue 500 new ordinary shares of 1,000 marka in par value each.
Currently, Drina Osiguranje's capital of 8.1 million marka is divided into 8,087 ordinary shares of 1,000 marka in par value each.
The insurer's shareholders approved the transaction at a meeting held on April 20.
(1 euro = 1.95583 marka)