January 19 (SeeNews) - Shareholders of Croatian IT company Span [ZSE:SPAN] are offering for sale up to 115,000 shares, equal to 5.87% of the company's share capital, in an auction to be held later this week, the company said on Wednesday.
The indicative price range is between 210 kuna ($31.7/27.9 euro) and 250 kuna per share, according to an invitation for the auction called by brokerage Intercapital, which Span forwarded to the Zagreb bourse.
The invitation did not disclose the sellers.
The auction is organised on a single price basis. In case of a successful auction process, the sellers will publicly announce the number of shares sold and will be obliged not to sell any additional Span shares for the next six months.
All potential buyers are invited to express an irrevocable commitment by submitting their offers to the brokerage from January 19 by 10:00 CET on January 20.
The transactions will be carried out as block of transactions on the Zagreb Stock Exchange.
In September Span's shares made their debut on the Zagreb bourse following a public offering, in which the company raised 101.19 million kuna from the sale of 578,200 existing shares.
The company's equity capital totals 19.6 million kuna and it is distributed in 1.96 million shares with a par value of 10 kuna per share.
The company's shares traded 0.87% lower at 229 kuna by noon.
(1 euro = 7.523 Croatian kuna)