Bosnia’s Frozen Food Distributor Fratello Trade Says Its IPO, Country’s First Ever, To Succeed - Media

The IPO, which was launched on December 3, will be considered successful if at least 70% of the offered shares are subscribed to and paid.

Fratello Trade has completed its IPO roadshow and expects to pass the 70% threshold, daily newspaper Dnevni Avaz quoted on its website Fratello’s owner Mario Derajic as saying.

At present, investors from Slovenia, Spain and a large number of local ones are interested in almost 60% of Fratello’s shares, Dnevni Avaz quoted Derajic as saying.

Fratello has offered 295,000 shares at a price of 4.00 marka ($2.66/2.05 euro) to 5.20 marka per share on the Banja Luka Stock Exchange (BLSE). The offering will close on December 18.

Fratello Trade, based in Banja Luka, said earlier it expected to raise 1.2 million to 1.4 million marka from the IPO and planned to invest the proceeds in new capacity, equipment and distribution centres.

Fratello supplies the Bosnian market and exports to Serbia and Montenegro. It says it is the second largest fish distributor in Bosnia and Montenegro.

Individual investor Mario Derajic is Fratello's majority owner with 66.03%. The remainder is owned by Vienna-based Horizonte Venture Management.

(1 euro = 1.95583 Bosnian marka)