General manager raises stake in Croatia's Cateks

Following the transaction, Sabolic now owns a total of 10,000 Cateks shares, the company said in a statement on Wednesday.

The shares were acquired on the Zagreb Stock Exchange (ZSE) on September 22 at an average price of 57 kuna apiece, the company said, without providing details about the buyers.

According to September 24 data from ZSE, Sabolic still controls 3.25% in Cateks, being the fourth largest shareholder in the company. Cakovec-based firm Investarx owns 17.33%, Cateks itself has 8.71% and individual investor Ivan Soldo has 4.07%.

In August, Croatian textile company Varteks [ZSE:VART] sold its 17.12% stake in Cateks via a sales agreement outside the official stock exchange market, but did not provide the name of the seller. Varteks held the holdings in Cateks via its Varazdin-based unit V-Projekt, which was the largest single shareholder in Cateks prior to the transaction.

Cateks' share capital is divided into 246,201 stocks of 200 kuna in par value each.

The shares last traded on the ZSE on May 8, closing flat at 49 kuna.

(1 euro = 7.5502 kuna)