September 14 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] group said on Tuesday that the shareholders of its switchgear producer subsidiary Koncar – Aparati i postrojenja have decided to decrease its registered capital to 115.5 million kuna ($18.3 million/15.4 million) from 165.5 million kuna.
The capital decrease will be carried out to pay out a company member, Koncar said in a filing to the Zagreb bourse without elaborating.
Koncar is the sole owner of Koncar – Aparati i postrojenja.
Under a decision of the company's shareholders' meeting from July 19, the company has been transformed into a limited liability company from joint stock company.
Koncar shares traded at 730 kuna on the Zagreb bourse on Tuesday, up 1.39%.
(1 euro=7.477 Croatian kuna)