February 23 (SeeNews) - The securities commission of Bosnia and Herzegovina's Serb Republic said it gave the green light to local provider of motor vehicle inspection services Premium Finance [BANJ:PRFN-R-A] to issue new shares worth 320,000 marka ($173,645/163,613 euro) - a transaction that will increase the company's equity capital more than four times.
The Serb Republic's securities commission approved the planned transaction on February 17, it said in a statement on Wednesday.
The company's sole owner, local insurer Premium Osiguranje, will buy all of the 3,200 newly issued shares at their par value of 100 marka apiece, Premium Finance said in an earlier bourse filing.
Premium Finance's existing capital of 100,000 marka is divided into 1,000 shares. The stock has not traded on the Banja Luka Stock Exchange in the past year.
The Serb Republic is one of two autonomous entities which form Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)