May 26 (SeeNews) - In Zagreb story "Croatia's Arena Hospitality Group extends bookbuilding for IPO" dated May 25 please read in the headline "Croatia's Arena Hospitality Group extends bookbuilding for public offering" (corrects term).
The rest of the story remains unchanged.
Croatian hotel operator Arena Hospitality Group, formerly Arenaturist, said on Thursday the bookbuilding process for institutional investors under its call for subscription and payment of 2 million new ordinary shares has been extended and will end at 15:30 CEST on Monday 25.
On May 12, Arena Hospitality Group launched an international share offer, hoping to raise its current capital of 65.5 million kuna ($9.9 million/8.8 million euro) by a minimum 20 million kuna and by a maximum of 40 million kuna.
The bookbuilding process, which was due to be completed by noon on Thursday, has been extended by several hours, Arena said in a Zagreb bourse filing without providing further details.
On May 12, the company said its share capital increase will be implemented by the issuance of a minimum of 1,000,000 and a maximum of 2,000,000 new ordinary registered shares in the nominal amount of 20.00 kuna each.
In March, Arena Hospitality Group changed its name from Arenaturist.
PPHE Hotel Group's owns 77.09% of the company.
In December, Arena acquired from PPHE Hotel Group 88% of its German and Hungarian operations, consisting of seven ParkPlaza and art’otel branded hotels. As at December 31, Arena owned, co-owned, leased or managed 15 hotels, four self-catering holiday apartment complexes and eight campsites.