Tomorrow, September 17, the public offering of HT shares will begin, in which Croatian citizens can submit their purchase offers for HT-Hrvatske telekomunikacije shares until September 27, and institutional investors until October 1.
The price range for which offers will be submitted is from 245 kuna to 320 kuna per share. The final selling price and allocation of shares will be determined by the Government after the deadlines for submitting offers and closing the book of offers – on October 1, and on October 5, HT shares will be listed on the Zagreb and London Stock Exchanges. Croatian citizens will be able to submit their offers for the purchase of HT shares with preemptive rights and special benefits (binding preferential offers up to the amount of 38,000 kuna), as well as for amounts above that (binding non-preferential offers) from tomorrow, September 17, from 8 AM to September 27 until 8 PM, with the condition that their payments must be recorded by the end of the day on which the deadline for submitting offers expires, i.e., by 11:59 PM on September 27.
Institutional investors will be able to submit their offers (so-called indicative non-preferential offers) for a few more days, until October 1 at 2 PM, and the deadline for their payments is October 4 until 10:59 AM. Croatian citizens will be able to submit their offers at 293 branches of Hrvatska poštanska banka, Erste&Steiermärkische bank, and the Financial Agency (FINA). When submitting offers, citizens will need to present the required documents, verify the data in the offer form, and sign the form.
Croatian citizens will be able to submit offers in person or through a legal representative (parents for minor children) or an authorized proxy to whom they have given a special power of attorney duly certified by a notary public. Hanfa announced that it will generally verify all powers of attorney, that it is not a problem if there are multiple powers of attorney within one family, but if more than five powers of attorney are submitted by persons who are not family-related, such powers of attorney will be further verified and sanctioned in case of irregularities. Since offers can only be submitted in Croatia, all Croatian citizens residing abroad must submit their offers in person or through a proxy.
To submit an offer, citizens must bring the original document from which Croatian citizenship can be established, and if that document does not contain the personal identification number (MBG), they must have a document that has the MBG or a certificate from the Ministry of the Interior about the MBG. Likewise, if that document does not have a photograph (e.g., citizenship certificate), they need to present an ID card or passport for identification, and they should also bring a current account card from any bank in Croatia for possible refunds in case the offer is not accepted, or to return any excess paid money. Croatian citizens residing in Croatia who are clients of the two agent banks – ESB and HPB – will also be able to submit their offers via Internet banking. The minimum amount for which Croatian citizens will be able to submit an offer is the upper limit of the price range, meaning 320 kuna, and the maximum amount with preemptive rights is 38,000 kuna. If they hold the purchased shares for at least one year, until October 5, 2008, for every ten purchased, they will receive one share for free. To receive these bonus shares, the purchased shares must not be sold within a year, nor registered with a broker.
