January 8 (SeeNews) - Croatian hotel operator Jadran said on Monday its shares have been listed on the official market of the Zagreb Stock Exchange and will begin trading on January 10.
Jadran, which exited bankruptcy four years ago, is majority state-owned.
Prior to listing its shares, the company underwent a comprehensive due diligence, during which certain legal issues inherited from the bankruptcy proceedings were resolved, it said in a statement sent to SeeNews.
Croatia's financial regulator, HANFA, has given the green light to the listing, while the Zagreb bourse on Monday approved the inclusion of 49,131,669 JDRN-R-B shares with a nominal value of 10.00 kuna ($1.6/1.3 euro) each for trade on its official market.
With the conclusion of bankruptcy proceedings in 2014, Croatia and the state-run Center for Enterprise Restructuring and Privatisation, CERP, became the largest shareholders of Jadran with a combined stake of over 70%.
Crikvenica-based Jadran operates eight hotels, two car camps and a holiday village.
(1 euro=7.44304 kuna)