December 20 (SeeNews) - Croatian confectionery producer Kras [ZSE:KRAS] has completed a 50 million kuna ($7.7 million/6.7 million euro) capital increase, the company said on Thursday.
Kras has issued 125,000 new shares of 400 kuna in par value apiece in two rounds, increasing its share capital to 599.488 million kuna, it said in a filing with the Zagreb Stock Exchange (ZSE).
The existing shareholders subscribed for 40,618 new shares in the first round and for a further 84,382 new securities in the second round. A total of 481 existing shareholders participated in the capital increase.
In June, Kras said the capital hike is planned to take place in potential three rounds until the target is reached, respecting the right of priority of the shareholders. The capital increase aims to maintain the company's leading position on the markets of the region and to increase its competitiveness in the EU, with those objectives requiring investment in production facilities and new acquisitions in the region.
(1 euro = 7.41917 kuna)