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Montenegro's Lovcen Osiguranje completes 300,000 euro cap hike

Montenegro's Lovcen Osiguranje completes 300,000 euro cap hike Ken Teegardin/CC BY-SA 2.0

PODGORICA (Montenegro), June 14 (SeeNews) - Montenegrin insurer Lovcen Osiguranje [MNG:LOZO] has said it completed a 300,000 euro ($355,000) capital hike, subscribed by shareholders with pre-emption rights.

The company issued 30,000 shares with a nominal value of 10 euro apiece, Lovcen Osiguranje said in a filing with the Montenegro Stock Exchange earlier this week.

After the completion of the transaction, the total capital of the company amounts to 2.6 million euro, the total number of shares is 260,000 and the nominal value per share is 10 euro, Lovcen Osiguranje said.

Lovcen Osiguranje, a subsidiary of Slovenian insurer Zavarovalnica Triglav [LJE:ZVTG] holds the biggest share of Montenegro's insurance market, according to data from the corporate website.

($ = 0.845668 euro)

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