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Bosnia’s Krajina Osiguranje raises 2.94 mln marka (1.5 mln euro) in cap hike

Bosnia’s Krajina Osiguranje raises 2.94 mln marka (1.5 mln euro) in cap hike License: Creative Commons CC0

SARAJEVO (Bosnia and Herzegovina), January 27 (SeeNews) - Bosnian insurance company Krajina Osiguranje [BANJ:KROS-R-A] said on Thursday it has raised 2.94 million marka ($1.7 million/1.5 million euro) by issuing new shares with a total nominal value of 7 million marka.

The insurer issued 7 million ordinary shares of 1 marka in par value each at a price of 0.42 marka apiece, it said in a bourse filing.

Following the share issue, the insurer's capital is divided into 20,668,191 shares of 1 marka in par value each.

Krajina Osiguranje opened the subscription for the new share issue on November 16 and suspended it on December 29, a day prior to the subscription deadline. It then reopened the subscription period for one day on January 20 after making amendments to the prospectus to reflect new obligations of the company to the tax administration of Bosnia's Serb Republic entity, it said.

Krajina Osiguranje's shares have not traded on the Banja Luka Stock Exchange in the past year.

(1 euro = 1.95583 marka)

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