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Croatia's Meritus Ulaganja to seek 14 mln kuna (1.9 mln euro) in capital hike

Croatia's Meritus Ulaganja to seek 14 mln kuna (1.9 mln euro) in capital hike Croatia's M+ Grupa

ZAGREB (Croatia), June 2 (SeeNews) - Croatia's Meritus Ulaganja [ZSE:MRUL], the parent company of business process outsourcing (BPO) services provider M+ Group, said on Wednesday it has decided to increase its share capital by up to 14 million kuna ($2.3 million/1.9 million euro) via a new share issue.

Meritus Ulaganja will offer up to 140,000 new shares for subscription at a price of 850 kuna apiece in two rounds that will take place simultaneously, it said in a stock exchange filing.

The capital increase will be considered successful if at least 122,000 shares are subscribed for and paid for.

Meritus Ulaganja's share capital of 85.8 million kuna is split into 857,805 ordinary shares.

The two largest shareholders of Meritus Ulaganja are local businessmen Manica Pirc Oreskovic with 29.14% and Stjepan Oreskovic with 29.13%, while the remainder belongs to smaller shareholders, bourse data showed on June 2.

Zagreb-based M+ Group is one of the largest BPO companies in the region with key clients in telecommunications, energy, and transportation, among others. It is present in Slovenia, Croatia, Bosnia, Serbia and Turkey.

Meritus Ulaganja's shares last traded on the Zagreb bourse on October 1, 2020, closing 25.4% higher at 790 kuna.

(1 euro = 7.5046 kuna)

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