Croatia's Badel 1862 hikes share capital of local winery Vinoplod

As part of the capital hike, Vinoplod issued 225,000 regular shares of 20 kuna in par value each, which were acquired by Badel 1862, the alcoholic beverages producer said in a statement with the Zagreb bourse earlier this week.

"Vinoplod's share capital has been raised by the mentioned amount via a cash payment made by Badel 1862 as a strategic investor," Badel said, without providing further details on its stake in Vinoplod following the hike.

Local media reported in June that as part of its pre-bankruptcy proceedings Sibenik-based Vinoplod had agreed to cut its equity capital from 29 million kuna to 222,900 kuna in order to cover losses for previous years, and to subsequently raise its capital again via issuing new shares to Badel 1862.

Badel's shares last traded on the Zagreb bourse on December 23, closing down 3.33% at 11.60 kuna.

(1 euro = 7.44686 kuna)