SARAJEVO (Bosnia and Herzegovina), June 9 (SeeNews) - Bosnian insurance company Krajina Osiguranje [BANJ:KROS-R-A] plans to raise 3.1 million marka ($1.7 million/1.6 million euro) through a new share issue, it said.
The insurer intends to issue 3.1 million ordinary shares of 1 marka in par value each, the company said in a bourse filing on Tuesday.
The shareholders are expected to vote on the proposed capital increase at a meeting scheduled for July 11.
Under the proposal, the existing shareholders will be able to exercise their preemptive right and purchase shares at a price of 0.29 marka per share. They will have 15 days to subscribe for shares from the new issue.
Any shares that remain unsubscribed will be offered to new investors at a price that will be set on the stock exchange according to the principle of multiple prices. The planned issue will be considered successful if at least 60% of the new shares are subscribed for within 60 days from.
The insurer's current capital is divided into 9,300,000 shares of 1 marka in par value each.
Krajina Osiguranje's shares did not trade on the Banja Luka Stock Exchange (BLSE) in the past year.
(1 euro = 1.95583 marka)