Mr. Marić: Petrokemija can survive without fresh capital for another month.

Petrokemija can survive without fresh capital for another month, said Minister of State Property Goran Marić after the Government session.

>>> Shareholders of Petrokemija decided to initiate a capital increase

In response to a journalist’s statement that the capital increase for Petrokemija has obviously failed, Marić emphasized that it has not, and that it is the best solution for the company. He pointed out that Petrokemija cannot last much longer without fresh capital, specifically that it can survive for another month.

Let us recall that significant problems with Kutina’s Petrokemija began in mid-January this year when Ina suspended the supply of natural gas due to issues with the payment of previously delivered quantities. Although Ina later resumed gas supply, the capital increase remains crucial for the normal functioning of Petrokemija.

The shareholders of Petrokemija decided at an extraordinary assembly in mid-January to initiate the process of capital increase, in which they intend to raise 450 million kuna.

>>> Ćorić: Gas supply for Petrokemija is proceeding smoothly, capital increase is a regular topic

The increase in share capital would be carried out by issuing 45 million ordinary shares with a nominal value of 10 kuna, using the exemption from the obligation to publish a prospectus regarding the public offering and completely excluding the preemptive rights of existing shareholders when subscribing for new shares of the company.

Petrokemija previously reported that it has received binding offers from several interested bidders for the capital increase, which have been submitted to the Center for Restructuring and Sale (CERP) and the Ministry of State Property for further processing.

According to media reports, among them are the Austrian Borealis and Croatian companies PPD and Ina.