November 21 (SeeNews) - Bosnian grain manufacturer Zitopromet [BANJ:ZTR9-R-B] has decreased its equity capital to 3.447 million marka ($1.8 million/1.76 million euro), the central securities registry of Bosnia's Serb Republic said.
The capital reduction was carried out by lowering the nominal value of each of the company's 1,050,909 shares to 3.28 marka, the central securities registry said in a notice last week.
Prior to the transaction, Zitopromet's capital totalled 4.151 million marka, as the nominal value of each of its shares was 3.95 marka, according to an earlier filing by the company.
Zitopromet said in October it has decided to reduce its capital to cover loss in the amount of 700,242 marka made in 2016, whereas the remaining 3,867 marka will go to the company's reserve funds.
In 2021, the Brcko-based company booked a net loss of 1.2 million marka, compared with a net loss of 94,270 marka the year before.
Zitopromet's shares last traded on the Banja Luka bourse on November 4, 2021, when they closed flat at 0.45 marka.
The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)