July 15 (SeeNews) - Croatia's financial regulator, HANFA, said it approved a prospectus for the public offering of a bond issue with a nominal value of up to 50 million euro ($50.1 million) of holding company Meritus Ulaganja [ZSE:MRUL] and its listing on the Zagreb bourse.
The issue will comprise up to 500 bonds with a nominal value of 100,000 euro each, and a fixed interest rate, HANFA said in a statement on Thursday.
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Meritus Ulaganja is the parent company of business process and technology outsourcing (BPTO) services provider M+ Group. Zagreb-bazed M+ Group operates also in Germany, Slovenia, Bosnia, Serbia, Turkey, Romania, Hungary, the UK and the U.S.
At least 70% of the proceeds of the bond will be used for acquisitions in the BPTO and for investments in new and existing subsidiaries, Meritus said in the prospectus. The rest will be used to finance the company's regular operations.
Over the past five years, the M+ Group has made 15 acquisitions and secured a diversified portfolio of clients consisting of technology, energy, logistics, and e-commerce companies, consumer goods companies, financial institutions, and European and global telecoms. It has a language portfolio of 31 languages.
Meritus Ulaganja's shares last traded on the Zagreb bourse on February 24, ending 9.09% lower at 1,000 kuna ($133/133 euro).
(1 euro = 7.516 Croatian kuna)