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Bosnia's Komunalac 665,000 euro maiden bond sold out

Author Iskra Pavlova
Bosnia's Komunalac 665,000 euro maiden bond sold out Photo: Pixabay

BANJA LUKA (Bosnia and Herzegovina), September 23 (SeeNews) - Bosnian utility company Komunalac [BANJ:KMNC], serving the northern town of Kozarska Dubica, said it has sold out its maiden bond issue worth 1.3 million marka ($731,500/665,000).

Investors on the Banja Luka bourse bought all 13,000  bonds issued by Komunalac at a price equal to their par value of 100 marka each, the company said in a bourse filing last week.

The 14-year bonds carry 6.0% annual interest.

The issue had a 60% success threshold.

Komunalac's shares last traded on the Banja Luka bourse on March 31, 2015, closing flat at 0.4 marka.

The company has said its total revenue shrank 17% to 1.297 million marka in 2018, while its total expenditures declined 15% to 1.277 million marka, resulting in a slim profit.

Komunalac provides services to 3,316 households and 369 companies and shops on the territory of the Kozarska Dubica municipality. It employed 53 people in 2018.

The Kozarska Dubica municipality controls 69% of Komunalac, followed by Banja Luka-based Group Fortis with 17%. The remainder belongs to smaller shareholders, bourse data showed.

(1 euro = 1.95583 marka)