April 7, 2014 / 11:26 AM / 4 years ago

Petrokemija shares jump after CEO says gets investor interest

ZAGREB, April 7 (Reuters) - Shares in Croatian fertiliser producer Petrokemija rose 12.7 percent on Monday after its chief executive was quoted as saying the firm had received new expressions of interest from potential investors, after a previous sell-off attempt failed.

The stock was quoted at 61.49 kuna ($11.03) at 1115 GMT.

“The rise is a consequence of an interview by Petrokemija CEO, who said that there were investors expressing interest again and that the government might decide to keep less than 25 percent in the company,” a local equity dealer said.

Croatia’s state asset management agency DUUDI currently owns almost 44 percent of Petrokemija. The rest is divided among several local private banks and pension funds.

“Last week we received several letters from potential investors, including some from Russia. The previous sell-off attempt was apparently not attractive enough,” Dragan Marinko, Petrokemija’s chief executive, told the Jutarnji List daily.

In the previous sale attempt, where the government had planned to retain 25 percent in the company, four companies from Belgium, Hungary, the Czech Republic and Austria had expressed an interest, but none submitted a binding offer.

Croatia’s stock exchange index Crobex was down slightly.

$1 = 5.5762 Croatian Kunas Reporting by Igor Ilic; Editing by Mark Potter

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