Intercapital has been authorised by Capita Trust Company and OTP Bank, "to organise and execute the sale in the out-of-court pledge enforcement sale procedure of 576,880 shares (representing 10.64% of the share capital) of the issuer PODRAVKA PREHRAMBENA INDUSTRIJA."
Offers can be submitted to Intercapital between 0800 hrs 18 July and 1500 hrs 19 July 2011.
"All domestic and foreign legal or natural persons, who are pursuant to legislation of the Republic of Croatia, represented by Investment Company being registered member of Zagreb Stock Exchange may act as buyers in a public sale," according to the press release issued on the ZSE on Monday.
"Winning offers shall be determined immediately after the closing of the Order Book," and the main principle of allocation is the highest price for the whole package of the offered shares.
"Buyers explicitly agree to the option that the amount of shares which will be allocated to them will be smaller than the amount stated in their offer, with regard to the number of shares for which their offer satisfies criteria for winning offer."
Potential buyers can make offers to at least 1,500 shares.
Following the announcement of this invitation, the ZSE placed special attention to the developments with Podravka shares.
Until 1150 hrs Monday Podravka shares had been traded at the price of HRK 320 per share, a drop of 0.6%, with 897 shares of Podravka changing hands resulting in the turnover of HRK 286,000.