CROATIA OFFERS 25-30 PERCENT OF PUBLIC COMPANIES STOCKS ON

DUBROVIK, Oct 27 (Hina) - Croatia will offer 25-30 percent of public companies' stocks on the international market, announced Croatian Privatisation Minister Milan Kovac at a press conference held in Dubrovnik at the end of the International Conference on Privatisation in countries in transition. The Privatisation Ministry and other relevant ministries will specify the privatisation model of public companies, said Kovac, adding it has been already established that Croatian soldiers of the homeland war will be granted a share in those companies, by the Privatisation Law. Employees of those companies will be able to buy shares with special discounts. The funds from the stocks sold from the INA oil company, Croatian Electric Power Industry and Croatian post and telecommunications, will be used by the Croatian Government for strategic investments such as the reconstruction of the Croatian Danube River Region, retirement system reforms and creating employment opportunities, said Kovac. The Government expects that increased numbers of foreign investors will have an impact on the price reduction of the public companies services for local consumers, Kovac noted. Stipe Hrkac, director of the Croatian Fund for Privatisation expects a large increase of small stockholders after the privatisation of public companies. However, to stop the stock purchase from small stockholders for minimum funds, special protection mechanisms will be established. One of those mechanisms is that the stocks can be bought and sold only at stock markets. (hina) it jn/ab