Croatia's Ledo sets final price of new shares

Ledo is in the process of trying to raise its capital by up to 35.6 million kuna to up to 119.3 million kuna through the issue for payment in cash of up to 93,750 new ordinary shares with a nominal value of 380 kuna each. The subscription period ran from 0900 Zagreb time on December 17 until 1000 on December 19.

The company plans to use the funds raised in the capital hike for the takeover from its parent Agrokor of one company each in Serbia and Montenegro in a push to become a regional leader in the ice cream and frozen food industry.

Ledo’s core markets are Croatia, Serbia and Bosnia and Herzegovina where it holds leading market positions in both ice cream and frozen food.

(1 euro = 7.5348 Croatian kuna)