The company Tokić has concluded its public offering of shares, which lasted from November 20 to November 31 of this year, raising a total of €23.3 million in fresh capital.
During the subscription period, over 1,700 small investors, including nearly 200 employees in Croatia and Slovenia, along with qualified investors, expressed their confidence in the company that has become synonymous with auto parts, as announced on the corporate website.
At the presentation of the public offering it was announced that the company aimed to raise between €24.2 million and €30.7 million.
Small investors subscribed to 37 percent of the total offered shares, of which more than 10 percent relates to employees. As many as 64 percent of small investors subscribed to shares through digital channels. Indeed, Tokić’s IPO was the first in which investors were allowed to directly subscribe to shares via the M-Riznica mobile application of the Ministry of Finance.
By the end of the offering period, all one million newly issued shares were subscribed, and offers to purchase 154,000 existing shares were submitted, resulting in the share of existing owners being 71.7 percent. The final price per share was set at €20.20, and the total amount of raised funds reached €23,315,183.40.
For the regional leader in the sale of auto parts and tires in the markets of Croatia and Slovenia, founded by Ilija Tokić, the raised capital will enable the realization of an intensive investment cycle – the construction of a new logistics distribution center, investments in potential acquisitions, and the continuation of the company’s digitalization.
As announced ahead of the IPO, Tokić intends to use the capital raised in the IPO in three directions. The first is strategic expansion and investment in technology and logistics, so part of the money will be used for the construction of the LDC, then strengthening the capital structure so that the company can finance itself in the future through other instruments, such as bonds, and finally expanding the investor base.
– We thank all investors, especially our employees, who have once again shown confidence in the Tokić group, its leadership, and long-term strategy. The 37 percent of funds raised from small investors is a confirmation of our connection with the community, and trends in mobility, as well as the growth and age of the vehicle fleet, create even more favorable market conditions for us – said Ivan Šantorić, CEO of the Tokić group, adding that after the conclusion of the IPO, the Tokić group is a stronger organization with clear goals.
The deadline for the return of excess paid funds to investors is until November 17, while the listing of shares on the Zagreb Stock Exchange is expected by the end of November.
