Bosnia's Zitopromet to cut share capital to cover losses

The capital reduction will be carried out by lowering the nominal value of each of its 1,050,909 shares to 3.28 marka from 3.95 marka, Zitopromet said in a bourse filing.

Zitopromet will 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 made 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.

(1 euro = 1.95583 marka)