Zagreb, 20th April 2006. – Damir Barić, CEO of Viro Sugar Factory and Marinko Papuga, Director of Zagreb Stock – Exchange signed a contract on including the shares of Viro Sugar Factory in the Official market of Zagreb Stock-Exchange (the first quotation). The trading with shares on the Official market started at 10 o’clock.
“The success we made by IPO and now also by including in the Official market of Zagreb stock – exchange is a result of great investments in factory’s modernisation and strengthening its market position. I believe that the end of investments started in last year, amounting more than 40 million kuna will additionally strengthen Viro Sugar Factory’s position and contribute to further growth of shares price”, stated Željko Zadro, authorized managing clerk in Viro Sugar Factory.
«Being an IPO agent for the shares of one production company in the Official market of Zagreb Stock-Exchange, HPB enabled Viro Sugar Factory to raise additional capital for further development. The bank recognized a great growth potential in Viro and by subscribing the whole issue in a record time – line, the investors confirmed our expectations which returned with attractive growth of share price even on the first day of trading on Zagreb stock – exchange”, pointed out Ivan Sladonja, The Member of HPB Management Board.
The process of Viro Sugar Factory IPO started on 18th January 2006 and on 2nd February it was opened for the investors who subscribed for the whole issue of 346.667 shares worth 126,533 million kuna in 18 seconds. Because of extremely high interest, the shares were included in Parallel market of Zagreb Stock – Exchange on 10th April 2006 and in the first day the trading with shares exceed the amount of 42 million kuna. Since Viro shares were included in Parallel market their value increased by 40.55% and now they are 513 kuna worth. The total sales amounted to 53,823 million kuna.
In the last year Viro accomplished the best results in the history of the factory. The total income was 503.7 million kuna, out of which 211.57 million kuna were generated by export. Net profit in 2005 was 73.57 million kuna. 490.000 tones of sugar beet was processed, out of which 65.711 tones of sugar was produced. Besides, 41.769 tones sugar from sugar cane, 22.074 tones of sugar beet noodles and 17.165 tones of molasses were also produced. |
