Erste Bank has enabled individuals, users of its digital platform George, to digitally subscribe to securities in initial public offering (IPO) processes, and as the bank emphasized on Wednesday, this is the first fully digitized procedure of its kind in the Croatian market. This allows users to subscribe to securities in IPO processes without visiting a branch and independently of the time they wish to make the subscription within the subscription period. Thus, they have, as stated by Erste Bank, completed the process of issuing securities from arranging services to enabling subscriptions regardless of the type of security and the value of the issuance. Investors wishing to participate in the purchase of shares of Studenac Group, which started this morning at 8:00 AM, will also be able to subscribe to shares digitally through online banking George, in addition to some Erste Bank branches.
Namely, Erste Bank, as one of the joint global coordinators of the issuance, enables small investors (individuals and legal entities), as well as institutional investors from Croatia and Poland, to subscribe to shares of Studenac Group until November 27, 2024, at 14:59. It is worth noting that Studenac Group announced its prospectus on Tuesday and announced the start of its initial public offering of shares (IPO), aimed at small and institutional investors, through which it plans to raise funds for further business growth, acquisitions, and expansion of its store network. The IPO includes up to 24,066,667 new shares and up to 31,103,927 existing shares, totaling up to 55,170,594 shares and representing up to 35 percent of the company’s share capital after the IPO. The price range for shares offered to institutional investors is set between 3.14 and 3.32 euros per share, while for small investors, the maximum price is set at 3.32 euros per share. Additionally, the bank will not charge a custody fee for the first year of share storage, until December 1, 2025, as emphasized by Erste Bank.
