Serbia's Planinka plans 2.0 mln euro capital hike

The company plans to offer for subscription to its existing shareholders 2,500 new shares at a price of 94,095 dinars each, it said in a statement with Serbia's central securities registry and clearing house last week.

The subscription will be open between July 10 and August 10. The success threshold is set at 51%.

The purpose of the capital hike is to finance the construction of a hotel in Lukovska Banja spa resort, in southern Serbia, Planinka noted without providing further details on the project.

Currently, Planinka's 180 million dinars share capital is divided into 65,284 shares with a par value of 2,760 dinars each.

Its largest single shareholder is the company's director general, Radovan Raicevic, with 12.8%, while the remainder belongs to smaller shareholders with stakes of less than 6.5% each, data from the clearing house showed on July 4.

Kursumlija-based Planinka was established in 1964. The company owns mineral water bottling plant Prolom Voda and special rehabilitation hospital Prolom Banja with two thermal water health and wellness centres - Prolom Banja and Lukovska Banja.

(1 euro = 117.039 dinars)