Croatia's Kras generates highest turnover on ZSE, share price falls

Kras closed at 960 kuna, down 4%, in a turnover of 10.3 million kuna, data posted on the ZSE website showed.

Earlier on Monday, Kras said the shareholders of Kras-ESOP decided not to join Braca Pivac in its plans to launch a buyout bid for Kras.

On Friday Cyprus-registered Kappa Star, which has been raising its stake in Kras over the past weeks, said it too has no intention to launch a voluntary buyout bid for the company shares it still does not own.

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.

The ZSE share indices fell on Monday, as power transmission equipment manufacturer Dalekovod [ZSE:DLKV] led the blue-chip losers, bourse data showed.

Dalekovod closed 2.99% lower at 5.20 kuna.

Shipbuilding company Viktor Lenac [ZSE:VLEN], paced the blue-chip gainers on Monday, as its share price rose by 2.56% to 6 kuna.

Hrvatski Telekom [ZSE:HT], contributed the biggest portion of trading turnover among the blue chips on Monday, of 2.6 million kuna. The company's shares closed 0.89% lower at 167 kuna.

Monday's turnover was boosted by a block transaction in the preferred shares of diversified holding Adris Grupa [ZSE:ADRS], of 2.4 million kuna.

ZSE's total trading turnover halved to 33.5 million kuna ($4.9 million/4.5 million euro), from 65 million kuna on Friday.

The 25-share benchmark CROBEX index fell by 0.77% to 1,963.54 after rising 0.97% 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, decreased by 0.88% to 1,166.18 after increasing by 1.29% on Friday.

The fixed-income CROBIS index added 0.03% to 116.9013.

(1 euro = 6.79476 kuna)