Bosnia's HET shareholders endorse cap hike of Dabar HPP operator

HET intends to convert 42.3 million marka ($21.7 million/21.6 million euro) worth of receivables into a monetary contribution into the hydro power plant operator's capital, HET said in a bourse filing.

The planned capital increase is aimed at securing additional financing for the construction of the Dabar hydro power plant which is expected to be completed by 2025.

HE Dabar's equity capital totalled 146.5 million marka as at the end of 2021.

Currently, the Serb Republic's power utility ERS owns 76.2% of HET's share capital, the Serb Republic's Pension Reserve Fund's management company owns 6.8% and the entity's Restitution Fund owns 3.4%. The remainder is distributed among several small shareholders, data from the Serb Republic-based Banja Luka Stock Exchange showed.

The Serb Republic is one of two autonomous entities that make up Bosnia and Herzegovina. The other one is the Federation.

HET's shares last traded on the Banja Luka bourse on August 16, closing flat at 0.30 marka.

(1 euro = 1.95583 marka)