You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Croatian drug maker JGL plans up to 50 mln kuna (6.7 mln euro) capital hike

Author Iskra Pavlova
Croatian drug maker JGL plans up to 50 mln kuna (6.7 mln euro) capital hike Photo: All Rights Reserved

ZAGREB (Croatia), January 21 (SeeNews) - Croatian pharmaceuticals producer Jadran Galenski Laboratorij (JGL) said on Tuesday it plans to raise its capital by up to 50 million kuna ($7.5 million/6.7 million euro) via a new share issue.

For the purpose, JGL's shareholders will convene at an extraordinary meeting on February 28 to amend the company's statute, allowing its management board to carry out the planned capital increase within the next five years, JGL said in a statement with the Zagreb bourse.

The new shares will have a nominal value of 100 kuna each, as the management will be able to issue them without first offering them to shareholders with pre-emptive rights, the statement said.

In September, JGL increased its share capital to 119.26 million kuna from 118.47 million kuna via a new issue of 7,830 regular shares with a par value 100 kuna each.

Founded in 1991, JGL is one of the largest drug makers in Croatia, specialising in the production of sterile nose, eye and ear drop solutions. Its largest markets include Ukraine, Bosnia, Belarus, Serbia and Russia.

(1 euro = 7.43657 kuna)