Recently the Ivo Sanader Cabinet announced its decision to sell 15 percent of INA's regular shares, with a potential option to sell an additional two percent in a public tender, as determined by government decisions adopted on 14 September and 13 October 2006 and published in the Official Gazette.
The government decisions enable Croatian nationals to have the right of pre-emptive buying and special benefits for the purchase of regular shares.
Croatian citizens, who have the right to pre-emptive buying, can offer their tenders from 13 November until 20:00 hrs 23 November.
The tenders will be given in branch offices of Raiffeisen Bank Croatia and in some offices of the state-run financial agency FINA.
As of 13 November until 15:00 hrs 27 November, institutional investors and other parties, without being granted special privileges, will be able to offer their tenders for Ina's shares.
Upon the expiry of the deadline at 15:00 hrs 27 November, the Government will decide on a final price for the sale of Ina's shares to tenderers. It will not be lower than 1,400 kuna or higher than 1,900 kuna per share.
The entire procedure and transactions will finish on 1 December when the transfer of shares to buyers is expected to be carried out and buyers expected to get money, Deputy Prime Minister Damir Polancec said today.