- BOSQAR INVEST allocated 5,882,352 new shares to subscribing investors, raising EUR 150 million.
- This represents the largest secondary public offering (SPO) on the Croatian capital market and one of the largest capital raises ever completed in Croatia.
- Alongside the continued support of existing investors, the new shares were subscribed by 5,453 retail investors and 26 qualified investors.
Zagreb, Croatia, June 23, 2026 - Croatian investment group BOSQAR INVEST (BOSQAR d.d. – ZSE: BSQR) announced on Tuesday the final results of its secondary public offering (SPO) of new shares.
During the offering period, from June 1 to 15, investors subscribed for a total of 6,979,765 new shares, corresponding to EUR 177.99 million.
As the Resolution on the Increase of Share Capital provided for the issuance of up to 5,892,185 new shares, with a targeted offering size of EUR 150 million and a final price of EUR 25.50 per new share, BOSQAR allocated 5,882,352 new shares to investors who subscribed new shares in the offering and made timely payments, raising a total of EUR 149,999,976.00.
Based on the number of subscribed and duly paid new shares, BOSQAR's Management Board, with the approval of the Supervisory Board, determined on June 23 that the company's share capital increased from EUR 15,640,094.35 to EUR 23,447,091.27, representing an increase of EUR 7,806,996.92 through a cash contribution and the issuance of a total of 5,882,352 new ordinary shares.
The allocation process was conducted in accordance with the criteria defined in the publicly available offering documentation, including existing shareholders' pre-emptive rights, the promotion of long-term ownership, a balanced and diversified shareholder structure, and appropriate representation of different investor categories.
Strong Institutional Support and Significant Retail Investor Interest
The strong and continued support of existing investors and partners across all capital issuances over the past six years was reaffirmed in this transaction, reflecting the trust and reputation BOSQAR has built since its IPO in 2019.
International investors also participated in the SPO, providing further validation of BOSQAR's business model.
One of the key objectives of the offering was to further open the company to the market and broaden its investor base by enabling citizens, retail investors, and employees to participate in the group's continued growth.
This objective was successfully achieved, with as many as 5,453 retail investors subscribing for BOSQAR's new shares. In addition, 26 qualified investors participated in the offering.
Darko Horvat, President of the Management Board of BOSQAR d.d., the holding company of the BOSQAR INVEST Group, said:
"We are very pleased with the outcome of the SPO. Through this share offering, we have made history on the Croatian capital market by completing the largest capital increase ever executed in the Republic of Croatia.
We particularly value the continued support of all our long-term investors and partners. Their confidence is a strong endorsement of our strategy, the results we deliver, and our potential for further growth.
We are also delighted that BOSQAR has been recognized by more than 5,400 retail investors. I am especially pleased that our own employees are among them, as we have prepared additional benefits for them through our ESOP programme.
I would like to thank everyone for the trust they have placed in us. The capital raised will further strengthen our ability to complete the acquisition of PIK Vrbovec and create a leading food industry group in this part of Europe, while also supporting the continued growth and development of the entire BOSQAR INVEST Group."
The sole lead issuance agent of the secondary public offering was Zagrebačka banka, which actively coordinated the transaction and worked alongside the co-arrangers Erste & Steiermärkische Bank, Privredna banka Zagreb, and Raiffeisenbank Austria.
Legal counsel to the BOSQAR INVEST group was Mamić Perić Reberski Rimac Law Firm, while Gospić Plazina Štojs Law Firm acted as legal counsel to the sole lead issuance agent.
Share Allocation for Retail Investors and Listing on the Zagreb Stock Exchange
Retail investors who already have an account with the Central Depository and Clearing Company (SKDD) can verify the exact number of allocated shares through their investor account by accessing SKDD's e-Ulagatelj service using their PIN or via the e-Građani platform at the following link.
For investors who have not previously participated in the capital market and do not have an SKDD account, SKDD will open an account free of charge. These investors will receive information regarding their investor identification number and PIN by post, enabling them to access SKDD and review their shareholdings through the above-mentioned service.
Investors are reminded that the new shares will be issued and credited to their accounts following the registration of the share capital increase with the competent court register.
Any overpaid amounts will be refunded to the bank account specified in the subscription form by the bank or brokerage firm through which payment for the new shares was made, no later than seven business days following the end of the first-round offering period.
The admission of the new shares to trading on the Zagreb Stock Exchange is expected in early July. By that time, all investors who participated in the offering are expected to be able to view their shareholdings.