September 25 (SeeNews) - Trading in the shares of Croatian confectionery producer Kras [ZSE:KRAS] contributed 45% of the total turnover on the Zagreb Stock Exchange (ZSE) on Wednesday, as their price rose slightly, bourse data showed.
Kras closed at 1,060 kuna, up 0.95%, in a turnover of 19.9 million kuna, data posted on the ZSE website showed.
Earlier on Wednesday, Kras said that Cyprus-registered Kappa Star, which is owned by Serbian businessman Nebojsa Saranovic, has raised its stake in the company above the 15% threshold from 12.46%.
On September 9, Croatian meat producer Braca Pivac said it plans to launch a joint buyout bid with local trading company Kras-ESOP for the remaining stake of 50.82% in Kras the two firms do not own among themselves yet.
The company's shares were trading below the 400 kuna mark before the buyout plans were announced.
On Tuesday, Cyprus-registered Kappa Star, which is owned by Serbian businessman Nebojsa Saranovic, said it has raised its stake in Kras to 12.46% from 5.35%.
The ZSE share indices rose on Wednesday, as shipbuilding company Viktor Lenac [ZSE:VLEN] led the blue-chip gainers, bourse data showed.
Viktor Lenac closed 4.9% higher at 5.35 kuna.
Another shipping company, Atlantska Plovidba [ZSE:ATPL], was the biggest blue-chip loser on Wednesday, as its share price fell 2.02% to 436 kuna.
Tourism company Valamar Riviera [ZSE:RIVP] contributed the biggest portion of trading turnover among the blue chips on Wednesday, of 5.6 million kuna. The company's shares closed 1.37% higher at 37 kuna.
On Tuesday the company said it is launching in October the construction of the 790 million kuna Pinea Hotel in the Adriatic resort of Porec on the Istrian peninsula.
Wednesday's turnover was boosted by a block transaction in the preferred shares of diversified holding Adris Grupa [ZSE:ADRS], of 2.4 million kuna. The company's preferred share price closed at 484 kuna, up 0.41%. Its ordinary shares rose 0.89% to 565 kuna.
ZSE's total trading turnover increased to 44.1 million kuna ($6.5 million/6.0 million euro), from 41.3 million kuna on Tuesday.
The 25-share benchmark CROBEX index rose by 0.60% to 1,934.67 after edging up 0.09% in the previous trading session.
The narrower of the ZSE's two blue-chip indices, the CROBEX10, which tracks the leading companies in terms of free float, market capitalisation and liquidity, increased by 0.69% to 1,142.19 after growing 0.14% on Tuesday.
The fixed-income CROBIS index added 0.03% to 117.0107.
(1 euro = 7.40558 kuna)