Tenders may be submitted in 46 branch offices of Raiffeisen Bank and in 153 offices of the state-run financial agency (FINA).
Government advisors in the privatisation of INA today began with the presentation of INA business activities to institutional investors, namely with the road show which will include four major European cities and four US cities.
The Ivo Sanader Cabinet announced its decision to sell 15 percent of INA's ordinary shares in today's press, 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 ordinary shares.
Croatian citizens, who have the right of pre-emptive buying, can offer their tenders from 13 November until 20:00 hrs 23 November.
As of 13 November until 15:00 hrs 27 November, institutional investors and other parties without 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,