The management board of Croatia’s Hrvatski Telekom (HT) has approved the transition of 80,766,229 ordinary shares from the Official to Prime Market of the Zagreb Stock Exchange (ZSE).
The transition and first day of trading will take place on October 14. Commenting on the development, Daniel Daub, CFO of HT, said: “Being listed on ZSE’s Prime Market is the latest confirmation of the highest level of corporate governance we operate by. Along with the fact that HT is the largest private investor in Croatian digitalisation, and HT shares are one of the most liquid shares on the market, entering the Prime market is also a move welcomed by the investor community as it not only testifies to our ‘blue-chip’ status but also strongly signals that HT shares are a valued and prudent long-term investment”.
Ivana Gazic, president of the management board of the ZSE, added: “We are delighted to greet HT d.d. as this year’s first issuer in the Prime Market, especially with HT d.d share being immensely significant for the domestic capital market. It is a share that has been one of the largest market liquidity generators since its listing in 2007. With this the Prime Market has gained additional importance. We welcome HT’s desire to formalize its commitment to the highest levels of transparency and good corporate governance by joining the most demanding market segment of the ZSE”.
Prior to the start of trading on the Prime Market, HT has also published its dividend policy, set out in the IPO prospectus in 2007. In March this year, the company announced that it expects a minimum dividend of HRK6 (€0.79) per share for the financial year 2020.
