September 19 (SeeNews) - Croatian tourism company Imperial Riviera [ZSE:HIMR] controlled by Valamar Riviera [ZSE:RIVP] said on Thursday it plans to issue new shares to increase capital to 826.7 million kuna ($123.6 million/111.7 million euro) from 400.6 million kuna.
The company plans to issue 488,012 new ordinary shares without nominal value, Imperial Riviera said in a filing to the Zagreb Stock Exchange (ZSE).
The new shares will be issued to Valamar Riviera, which controls almost 53% of Imperial, and to local investment fund management company Allianz ZB, whose funds control minority stakes in Imperial.
The shareholders will vote on the proposed capital increase on October 29.
The new shares will carry the same rights as the existing ones.
Imperial Riviera's shares closed at 645 kuna on the ZSE on Wednesday, down 0.77%.
(1 euro = 7.39216 kuna)