Croatia may increase telecom IPO stake

Croatia may increase the stake it will list in national telecom operator T-HT in October.

Izvor: Reuters

Friday, 21.09.2007.

11:17

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Croatia may increase the stake it will list in national telecom operator T-HT in October. This comes as a results of the huge interest among Croat citizens, Prime Minister Ivo Sanader said on Thursday. Croatia may increase telecom IPO stake "If the current interest persists, the government will probably next week consider raising the percentage of shares in the initial public offering," state news agency Hina quoted Sanader as telling a cabinet session. He did not elaborate further. The government originally decided to list between 20 and 23 percent of T-HT shares in Zagreb and London on October 5. Bookbuilding for the stock opened on Monday and, according to the local media, 60,000 Croats have already subscribed for the shares. Sanader said he was not allowed to reveal the exact number. T-HT, one of Croatia's most lucrative firms, is 51 percent owned by Deutsche Telekom. The government now owns 42 percent of the stock, having distributed 7 percent to veterans of Croatia's 1991-95 independence war. Bookbuilding will close on Sept. 27 for Croatian citizens and until Oct 1. for local and foreign institutional investors. The deadline for payments is October 4 and the share should start trading in Zagreb and London a day later.

Croatia may increase telecom IPO stake

"If the current interest persists, the government will probably next week consider raising the percentage of shares in the initial public offering," state news agency Hina quoted Sanader as telling a cabinet session.

He did not elaborate further. The government originally decided to list between 20 and 23 percent of T-HT shares in Zagreb and London on October 5.

Bookbuilding for the stock opened on Monday and, according to the local media, 60,000 Croats have already subscribed for the shares. Sanader said he was not allowed to reveal the exact number.

T-HT, one of Croatia's most lucrative firms, is 51 percent owned by Deutsche Telekom. The government now owns 42 percent of the stock, having distributed 7 percent to veterans of Croatia's 1991-95 independence war.

Bookbuilding will close on Sept. 27 for Croatian citizens and until Oct 1. for local and foreign institutional investors.

The deadline for payments is October 4 and the share should start trading in Zagreb and London a day later.

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