December 22 (SeeNews) - The Zagreb Stock Exchange (ZSE) has resumed trading in shares of eight companies of troubled food-to-retail concern Agrokor after it was halted on Thursday over opacity surrounding a debt settlement plan, the companies said on Friday.
The shares of frozen food producer Ledo [ZSE:LEDO-R-A], food company Belje [ZSE:BLJE-R-A], meat processing company PIK-Vinkovci [ZSE:PIVK-R-A], news stand operator Tisak [ZSE:TISK-R-A], agricultural conglomerate Vupik [ZSE:VPIK-R-A], mayonnaise and margarine maker Zvijezda [ZSE:ZVZD-R-A], soft drinks and water bottling co Jamnica [ZSE:JMNC-R-A] and wholesaler Zitnjak [ZSE:ZTNJ-R-A], are back trading, all eight companies said in separate bourse filings.
The ZSE decided on Thursday to suspend trading in the shares of those eight companies based on reports which suggested that a new Agrokor, with new mirrored units, will be formed as part of a debt settlement plan for the ailing concern inveiled on Wednesday.
These circumstances could greatly affect the companies' share prices, ZSE said on Thursday. It added trading will be back on once Agrokor makes the debt settlement plan public.
On Friday, the ZSE judged that the concern's units have had enough time to acquaint themselves with Agrokor's draft debt settlement plan, details of which are published on the website of the concern.
"The issuer has confirmed that it does not have price-sensitive information that it has not published", the stock exchange said of each Agrokor unit.
"Consequently, the exchange believes that the public is fully and accurately informed of the circumstances surrounding the draft settlement, and investors have the information needed to make investment decisions."
Agrokor said late on Wednesday that the council of creditors has endorsed a draft debt settlement plan which foresees a debt-for-equity swap and a partial debt write-off.
Under the plan, presented to the council of creditors by Agrokor trustee Ante Ramljak, creditors will take full control of a new holding company and its units, to which the assets of the sound segments of the Agrokor group will be transferred to.