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Croatian drug maker JGL raises share capital by 0.7%

Author Iskra Pavlova
Croatian drug maker JGL raises share capital by 0.7% Photo: All Rights Reserved

ZAGREB (Croatia), September 26 (SeeNews) - Croatian pharmaceuticals producer Jadran Galenski Laboratorij (JGL) has raised its share capital to 119.26 million kuna ($18 million/16 million euro) from 118.47 million kuna via a new share issue, the commercial court in Rieka said.

The court entered JGL's share capital increase in its register on September 25, it said in a statement posted with the Zagreb bourse on Thursday.

The capital was increased in line with a May 6 decision of JGL's management board, under which an overall 7,830 new regular shares were issued with a par value 100 kuna each, the statement said.

JGL has said it turned to a consolidated net profit of 26 million kuna in the first half of 2019, from a 19 million kuna loss in the like period of 2018, as revenues rose faster than expenditures.

Its largest markets in the January-June period were Ukraine, Bosnia, Belarus, Serbia and Russia.

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.

(1 euro = 7.40719 kuna)