December 8 (SeeNews) - The Zagreb stock exchange will drop as of December 15 shares of shipping company Tankerska Next Generation [ZSE:TPNG] from its main equity index, the CROBEX, and three other equity indices to reflect a drop of its free float following a takeover bid by its peer Tankerska Plovidba.
“On December 6, Tankerska Plovidba announced that it holds 8,492,215 shares of Tankerska Next Generation, which accounts for 97.24% of the share capital. Therefore, the free-float factor of Tankerska Next Generation shares decreased from 48.14% to 2.76%,” the stock exchange said in a statement on Wednesday.
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The bourse has also decided to exclude the shares of Tankerska Next Generation from the composition of the total return index CROBEXtr, the price index CROBEXplus and transportation and storage sector index CROBEXtransport.
Following the extraordinary revision, the CROBEX and the CROBEXtr will have 18 constituents each, the CROBEXplus 23 ones, and the CROBEXtransport four members.
Tankerska Next Generation's shares last traded on Tuesday on the Zagreb bourse, ending flat at 70.80 kuna ($9.9/9.4 euro).
(1 euro = 7.556 Croatian kuna)