April 19 (SeeNews) - Bosnian hydro power producer Hidroelektrane na Trebisnjici (HET) [BANJ:HETR-R-A] said it increased its capital by 280 million marka ($154.3 million/143.2 million euro) through a new share issue.
HET issued 280 million ordinary shares of 1 marka in par value each, it said in a statement filed with the Banja Luka Stock Exchange (BLSE) on Monday.
ERS, the power utility of Bosnia's Serb Republic, subscribed for 64.9% of HET's share issue, equal to its previous shareholding interest in the company, local news agency Capital reported last week. ERS invested 83.7 million marka in HET's capital increase, based on the share price of 0.46 marka apiece which HET offered to its existing shareholders in the capital hike.
HET received a shareholders' nod for the capital increase plan in March after failing to obtain an approval for a bigger capital hike. The initially proposed capital hike of 435 million marka would have more than doubled its existing equity capital of 385.2 million marka. The plan drew nationwide attention due to speculation for potential loss of government control over the electricity producer.
HET's shares closed 2.94% lower at 0.33 marka on the BLSE on Monday. They did not trade at opening on Tuesday.
The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)