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Croatian capital market in 2006 marked by Pliva and INA

ZAGREB, Dec 23 (Hina) - Like previous years, this year too will be a record one for the Croatian capital market according to a number of indicators, the most important events being the takeover of the pharmaceutical company Pliva by the US company Barr Pharmaceuticals and the inclusion of INA oil company shares in the quotation list of the Zagreb Stock Exchange.
ZAGREB, Dec 23 (Hina) - Like previous years, this year too will be a record one for the Croatian capital market according to a number of indicators, the most important events being the takeover of the pharmaceutical company Pliva by the US company Barr Pharmaceuticals and the inclusion of INA oil company shares in the quotation list of the Zagreb Stock Exchange.

Thanks to competition between Iceland's Actavis and Barr, Pliva will close this year as by far the most traded Croatian share, with turnover amounting to some 3.8 billion kuna, more than a third of the overall trade in shares in 2006.

Trade in Pliva shares was three times higher than trade in the second most traded shares - the preferred shares of Adris Grupa, which had a turnover of slightly more than a billion kuna, and it was five times higher than trade in the shares of the Podravka food company, which amounted to some 660 million kuna.

The interest of investors in the inclusion of INA's shares in the quotation list of the Zagreb Stock Exchange was evidenced by the fact that in only 20 days INA shares became the most traded shares in 2006, with a turnover of some 400 million kuna, which is the annual trade in the most attractive shares on the Varazdin Stock Exchange, those of Ericsson Nikola Tesla.

All of this has reflected on indicators of the Zagreb Stock Exchange, whose total turnover this year exceeded 10 billion kuna, which is close to the overall turnover in the last five years. Last year trade in shares amounted to 4.7 billion kuna.

This year the government increased its bond issue by six billion kuna, and for the first time a public company - Croatian Power Company - decided to raise capital this way, by issuing bonds worth 500 million kuna.

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