State-owned Financial Agency Purchased 10% Stake in ZSE

Zagreb Stock Exchange announced that the state-owned Financial Agency (Fina), domestic payments services provider, became its shareholder with 10% stake in the company.

On Monday it was announced on ZSE that the state-owned Financial Agency (Fina) has become shareholder of 9.99% of Zagreb Stock Exchange via block transaction in value of HRK 7.6m that took place on 7 November 2019, Friday. The state-owned Financial Agency is in business of providing payment services in domestic payment system, and it also offers offers financial and electronic services. Fina has purchased this shareholding from Eunex C, the company that was acquiring ZSE shares over the course of 2019 and it was assumed that it was looking to take-over majority of shares. According to the media Eunex C has decided to sell its shares due a change in the legislation that stipulates that the threshold for acquiring the shares in the Zagreb Stock Exchange has dropped to 10%.

According to the media Fina has decided to buy shares of the Zagreb Stock Exchange in order to further support development of the domestic capital market. Financial agency purchased the shareholding at HRK 16.5 per share. The share was last time traded on the regular market on 31 October at HRK 15.0 per share. This means that the Croatian state is becoming more actively involved in further evolution of the capital market in Croatia.

Category : Flash News

Want to invest? Do not know how and where? Contact us and we will solve everything for you.