Žito grupa launches the TSH Vitalka photovoltaic power plant

Žito grupa has made a significant investment from funds raised through a successfully conducted public offering of shares (IPO). A new photovoltaic power plant of the Vitalka animal feed factory in Osijek, valued at 1.15 million euros, has been put into operation.

According to the statement, the power plant has a total DC power of 1715.03 kWp and consists of 3854 photovoltaic panels installed alongside the factory. It is expected to produce 1934.1 MWh of electricity annually, which accounts for 74 percent of the total annual electricity consumption of TSH Vitalka, highlighting the importance of this investment.

– By investing in the TSH Vitalka photovoltaic power plant, we will reduce production costs while positively impacting the environment. This confirms the strategic direction of Žito grupa as an environmentally conscious and sustainability-oriented company. We are also pleased to inform our investors that we have successfully begun the implementation of planned projects funded through the IPO – stated Jozo Ljubičić, a member of the Management Board of Žito grupa.

This investment is yet another step in the continuous development and modernization of Žito grupa, which systematically invests in increasing energy efficiency, sustainability, and technological advancement of its production facilities.

The largest IPO to date

Let us recall that Žito grupa was listed on the Zagreb Stock Exchange on July 28 of this year, and the entire process generated exceptionally strong interest from both retail and institutional investors. The total amount of raised funds reached 130 million euros, making it the largest IPO to date.

As announced prior to the IPO, the raised funds would primarily be used for projects from the announced investment cycle and for potential acquisitions. One of these potential acquisitions is the takeover of Zvijezda from Fortenova, as recently reported by Lider.

However, the shares of Žito grupa on the Zagreb Stock Exchange are the only new shares that currently do not yield returns for owners.

– Our shares are not for gambling or quick growth. They provide security for investors because we are engaged in a stable business. The key is whether the company is efficient, productive, and competitive, and we have shown that we know how to operate. But regarding the share price, it will not fluctuate radically – said Marko Pipunić, the CEO of Žito grupa, in a one-on-one conversation with the editor-in-chief of Lider, Miodrag Šajatović, at the conference Day of Big Plans.