- Up to 5,892,185 new shares are being offered
- The price range for new shares is between EUR 25.50 and EUR 26.50
- New investors may participate in the offer from June 1 to June 10, while existing shareholders may participate from June 1 to June 15,2026
- Subscription will be available through bank branches, digital platforms, and brokerage firms
- Group employees are offered an ESOP program with an additional share allocation model of 3+1
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Zagreb, Croatia, May 19, 2026 – On Tuesday, BOSQAR INVEST (BOSQAR d.d. - ZSE: BSQR) presented a public call for the subscription of new Company shares through a secondary public offering of new shares (SPO), with the aim of further expanding its investor base and financing the group’s future development, including acquisitions.
The offer envisages the issuance of up to 5,892,185 new shares, within a price range of EUR 25.50 to EUR 26.50 per new share. The final price will be determined upon completion of the second round of the offer, taking into account investor interest, market conditions, and the assessment of growth prospects, risk factors, and other information relating to the Company’s operations. It will be publicly announced no later than one business day following the end of the second round of the offer, i.e. no later than June 11, 2026.
The offer begins on June 1, 2026. The first round, intended for existing shareholders, will run until June 15, while the second round, open to new investors, will run until June 10, 2026. Following the allocation process, payment for subscribed shares, and completion of the remaining steps for the registration of the share capital increase and issuance of new shares, trading of the new BOSQAR shares on the Zagreb Stock Exchange is expected to commence in early July 2026.
The offer of new shares is intended for existing shareholders and all other investors, including retail investors in Croatia, as well as qualified investors and employees of certain companies within the BOSQAR INVEST group in Croatia and Slovenia.
“For us, the planned issuance of new shares is not merely another capital raise. We also see it as a further opening of the company toward the market and an expansion of the investor base. As a Croatian company listed on the Zagreb Stock Exchange, we want to enable citizens, retail investors, and employees to participate in the continued growth of BOSQAR INVEST,” said Darko Horvat, President of the Management Board of BOSQAR d.d., the holding company of the BOSQAR INVEST group.
The capital raised will be directed toward financing future investments and acquisitions when favorable opportunities arise, including the acquisition of PIK Vrbovec.
Today, BOSQAR INVEST operates in 27 countries and employs more than 18,500 people. As of the end of March 2026, on a last-twelve-months basis, the group generated pro forma revenues of EUR 748 million and adjusted pro forma EBITDA of EUR 101 million. It operates through three strategic business verticals - technology, food and agriculture, and employment - within which the international groups Mplus, Panvita, Mlinar, and Workplace operate.
The group’s business model is based on a combination of acquisitions and organic growth in sectors with long-term demand. Since its IPO in 2019, the share price of BOSQAR INVEST has increased by 792 percent, or approximately 38 percent annually on average, while BOSQAR has continuously paid dividends over the past five years. This month, the Company also adopted a dividend policy through which it intends to continue returning value to its shareholders in the future.
All four Croatian pension funds participated in the company’s previous capital market issuances, alongside international funds, development institutions, and private investors. BOSQAR INVEST has also established a strategic partnership with the European Bank for Reconstruction and Development, further confirming institutional investors’ confidence in the group’s business model and long-term development strategy.
The subscription process has been organized through a large number of physical and digital channels to make participation as simple and accessible as possible for investors. Retail investors in Croatia will be able to participate through branches of Zagrebačka banka, Erste Bank, Privredna banka Zagreb, and Raiffeisenbank Hrvatska, as well as via digital platforms and applications such as mZaba, George, PBZInvestor, E-RIZNICA, and M-RIZNICA. Subscription will additionally be possible through FINA and brokerage firms HITA, Agram Broker, and FIMA Vrijednosnice. Group employees in Croatia will be able to participate exclusively through branches of Zagrebačka banka, while group employees in Slovenia will be able to participate electronically through Privredna banka Zagreb (PBZ).
A special segment of the offer relates to the ESOP program. Through the program, group employees in Croatia and Slovenia may qualify for additional shares under a 3+1 model, meaning one additional share for every three subscribed, provided they remain continuously employed and retain the shares for a two-year period. An individual employee may acquire up to 231 new shares.
“We want to further connect the company’s success with the people who create that success every day. The program has been designed as a long-term model for involving employees in the company’s development and growth,” said Vanja Vlak, Member of the Management Board of BOSQAR and CFO of the BOSQAR INVEST group.
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