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Sep 24, 2007 18:32 EEST
September 24 (SeeNews) - Croatian blue-chip construction firm Ingra prepares to move to the top tier of the Zagreb Stock Exchange (ZSE) following a decision of the local financial regulator, the watchdog said on Monday.
"Ingra has received approval for the publication of information when listing shares on the top tier of the ZSE," the Croatian Financial Services Supervision Agency (HANFA) said in a statement.
HANFA provided no other details.
Ingra became a constituent of the ZSE blue-chip index Crobex on Monday, but its shares have been among the most traded shares in the past few months.
The ZSE and Ingra will sign on Wednesday an agreement on the listing, the bourse said late on Monday.
The top-tier move will enable Croatian pension funds, who comprise one of the country's biggest institutional investors, to invest in the company.
Currently, the most transparent bourse index includes shares in nine companies.
Ingra shares closed at 47,282 kuna ($ 9,132/6,478 euro) on Monday, up 2.45% from Friday, on 4.0 million kuna turnover.
( 1 euro = 7.2985 Croatian kuna)
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