November 6 (SeeNews) - Croatian water pipe and fitting systems wholesaler Vodoskok has expressed interest in subscribing a capital hike of sector player MIV [ZSE:MIV-R-A] to enhance its competitiveness, MIV said.
MIV plans a capital hike in the range from 5 million kuna ($767,500/672,400 euro) to 15 million kuna, the company said in a filing to the Zagreb Stock Exchange on Monday.
MIV has been generating the bulk of its revenue on the domestic market through supplies to Vodoskok in the last 15 years which represents a stable platform for the strengthening of their cooperation, Vodoskok said in a letter to the shareholders of MIV.
German company Rixecker Investment holds a stake of 45.09% in the capital of MIV. The company's second-largest shareholder is Addiko Bank with 22.83%.
Last month, MIV said it completed the integration of local non-ferrous metals foundry Strojar. MIV said in June it agreed to integrate Strojar into its business structure, as it owns the entire 9.49 million kuna ($1.47 million/1.28 million euro) capital of the foundry.
(1 euro = 7.43563 dinars)