Slovenia's Triglav eyes deadline extension for subscription of Triglav INT shares by IFC

The holding company Triglav INT was established by Zavarovalnica Triglav with the intention of transferring into it ownership of its subsidiaries outside of the European Union.

Zavarovalnica Triglav, Triglav INT and the IFC signed on March 30 a subscription agreement, under which the IFC will, subject to conditions, subscribe and pay 17,720,496 ordinary shares that represent 16.68% of the fully paid share capital of Triglav INT.

Zavarovalnica Triglav said in a bourse filing its managing board intends to make an annex to the subscription agreement with the IFC so as to extend the deadline.

Outside the EU, Triglav Group is present in Macedonia, Serbia, Montenegro, Bosnia and Herzegovina and Croatia.

The insurer also said its supervisory board has approved a proposal that Zavarovalnica Triglav participate in the recapitalisation of Slovenia's Abanka Vipa in a percentage proportionate to its present shareholding, under the condition that the combined voting rights of Zavarovalnica Triglav and its related parties in Abanka Vipa after the recapitalisation represent less than one third of total equity.

The subscription for a three-round share offering in which Abanka Vipa will try to raise up to 90 million euro ($119 million) began on December 13.

($=0.7577 euro)