Istraturist shares will exit the Zagreb Stock Exchange market on July 1, according to a statement from the Zagreb Stock Exchange.
The last trading day for the shares is June 28, 2013. The Exchange received a request from Istraturist on January 14 for the withdrawal of shares from listing on the regulated market in accordance with a decision made at the company’s General Assembly on January 7.
As of yesterday, the ISTT-R-A share was valued at 158 kuna, achieving an increase of nearly 30 percent. The nominal value of the share is 100 kuna, and the total turnover achieved on the Zagreb Stock Exchange amounts to 385 million kuna.
The majority owner of the company is Zagrebačka banka, which informed last week that it now holds 93 percent of Istraturist shares.
It is worth noting that Zagrebačka banka reported at the end of October last year its intention to announce a voluntary offer to acquire the remaining shares of Istraturist from Umag, of which it was then a 71.8 percent owner, at a price of 156 kuna per share. Hanfa approved the announcement of the takeover offer at that price at the end of November. Zagrebačka banka’s offer concerned 1,318,359 shares of Istraturist.
Zagrebačka banka also reported at that time that it had no intention of changing its ‘strategic plans for the future operations of the target company, nor the employment policy and labor status of Istraturist employees.’
According to previously published data, Istraturist ended the first nine months of last year with a profit of 121 million kuna, which is 41.5 percent more than in the same period the previous year, due to an increase in revenue of 8.5 percent and a decrease in expenses of 0.6 percent.
