The Croatian government on Friday decided to sell by public tender no less than 20 per cent and no more than 23 per cent of shares in the Croatian telecommunications company HT, and according to Deputy Prime Minister Damir Polancec, the sale would most likely begin in September.
Between 16,377,707 and 18,834,363 ordinary shares will be offered for sale on the Zagreb and the London Stock Exchange at a nominal price of HRK 100 per share. Polancec said that the shares would be listed on the two stock exchanges in order to avoid possible major price oscillations.
Citizens will be given priority in subscribing for shares, up to the amount of shares whose total sale price does not exceed HRK 38,000. A prospectus for HT shares is in a final stage of preparation and will be sent to the Croatian and the British regulatory agency as soon as it is completed. After receiving their approval, the government will decide on a date for the start of the public offer, its duration and conditions, a price per share, and a date of closure of the transaction, Polancec said.
A sale price will be fixed after the expiry of deadlines for the submission of bids. Polancec said that already now there was a great interest among citizens and institutional investors in purchasing HT shares, "which indicates that the public offer will be very successful." (Hina)