September 27 (SeeNews) - Trading in the shares of Croatian confectionery producer Kras [ZSE:KRAS] contributed half of the total turnover on the Zagreb Stock Exchange (ZSE) on Friday, as their price dropped, bourse data showed.
Kras closed at 1,000 kuna, down 4.76%, in a turnover of 32.7 million kuna, data posted on the ZSE website showed.
Earlier on Friday Cyprus-registered Kappa Star, which has been raising its stake in Kras over the past weeks, said it has no intention to launch a voluntary buyout bid for the company shares it still does not own.
On Wednesday, Kappa Star, which is owned by Serbian businessman Nebojsa Saranovic, said it has raised its stake in Kras to 16.7% from 12.46%.
In the beginning of 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 rose on Friday, as diversified company Adris Grupa [ZSE:ADRS] led the blue-chip gainers, bourse data showed.
Adris closed 4.35% higher at 600 kuna. Its preferred shares increased 2.28% to 494 kuna.
Telecommunication services provider Optima Telekom [ZSE:OPTE], was the biggest blue-chip loser on Friday, as its share price fell sharply by 9.22% to 6.40 kuna.
Another telco, Hrvatski Telekom [ZSE:HT], contributed the biggest portion of trading turnover among the blue chips on Friday, of 9.5 million kuna, including a block transaction of 5.3 million kuna. The company's shares closed 2.43% higher at 168.5 kuna.
Friday's turnover was boosted by another block transaction in the shares of food producer Podravka [ZSE:PODR], of 4.2 million kuna.
ZSE's total trading turnover soared to 65 million kuna ($9.6 million/8.8 million euro), from 35.3 million kuna on Thursday.
The 25-share benchmark CROBEX index rose by 0.97% to 1,978.73 after growing 1.29% 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 1.29% to 1,176.49 after adding 1.69% on Thursday.
The fixed-income CROBIS index lost 0.03% to 116.8689.
(1 euro = 7.40728 kuna)