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Bosnia's Krajina Osiguranje cancels planned changes in share capital

Bosnia's Krajina Osiguranje cancels planned changes in share capital License: Creative Commons CC0

SARAJEVO (Bosnia and Herzegovina), August 4 (SeeNews) - Bosnian insurer Krajina Osiguranje [BANJ:KROS-R-A] said on Thursday it halted the process of reducing and subsequently increasing its equity capital.

The decision to cancel the process was taken in order to protect the interests of the company, the insurer said in a bourse filing, without elaborating.

Krajina Osiguranje said in July it planned to decrease its capital to 8.73 million marka ($4.54 million/4.46 million euro) from 20.67 million marka to cover losses from previous years, and subsequently issue 3,100,000 new shares of 1 marka in par value each in order to increase its total capital to 11.83 million marka.

As of August 4, Krajina Osiguranje's capital is divided into 20,668,191 shares of 1 marka in par value each, bourse data shows.

Krajina Osiguranje's shares did not trade on the Banja Luka Stock Exchange (BLSE) in the past year.

(1 euro = 1.95583 marka)

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