Ledo raises HRK 750m

Pursuant to the Decision on the Share Capital Increase of LEDO d.d. (“LEDO”), during the subscription period for new shares issued by the company LEDO, which lasted 3 work days as of the day of announcing the Public Invitation for Bids to qualified investors, ie. between December 17 and 19, 2012, qualified investors, legal persons, placed their subscriptions, with a total of 93,750 new shares validly subscribed and paid for at the price of HRK 8,000 per share.

The payment deadline expired on December 20th at noon and it was confirmed that all subscribers paid for the stock within the stated deadline. Thus Ledo was able to raise HRK 750m, achieving a 100% success rate for the new LEDO stock offering. The major part of the issue, around 70%, was subscribed by retirement funds but other institutional investors placed their trust in LEDO and its business strategy as well: insurance companies, investment funds and stockbroking companies.

The joint lead managers of LEDO’s new stock offering were Erste&Steiermarkische bank d.d. and Raiffeisenbank Austria d.d. LEDO is extremely pleased with the concluded transaction, having raised HRK 750m which is the largest public offering transaction of ownership shares on the domestic primary capital market, with the exception of large privatization IPOs of INA d.d. and Hrvatski Telekom d.d. Furthermore, the current challenging economic environment in which the transaction was executed additionally highlights its size and significance.

As already announced, LEDO will use the funds raised through the capital increase for the acquisition of Frikom a.d. and Ledo d.o.o. Podgorica. Through these acquisitions LEDO will become the regional leader in ice cream and frozen foods production as well as one of the leading Croatian companies.