September 4 (SeeNews) - Croatia's Atlantic Grupa [ZSE:ATGR] has become the first company to enter the Zagreb Stock Exchange's (ZSE) Prime Market segment, the bourse said on Tuesday.
An agreement for the transfer of 3,333,300 ATGR shares from the Official Market to the Pime Market was signed in Zagreb on Tuesday, the ZSE said in a statement.
"The Prime Market was conceived as a segment that would provide an example of the best market practice and we are very pleased to see that other issuers are interested in showing their commitment to the highest standards by switching to the Prime Market," Ivana Gazic, president of the management board of the ZSE, said.
In August, Croatia's news portal Poslovni.hr reported that only companies worth over 500 million kuna ($77.8 million/67.3 million euro) and with over 1,000 shareholders will be able to enter the Prime Market.
Only seven companies meet this requirement at present - Atlantic Grupa, Valamar Riviera, Hrvatski Telekom, Adris, Tankerska Next Generation, Arena Hospitality and Podravka.
The ZSE was rocked last year by the financial crisis in Croatia's ailing Agrokor concern. At the heat of the crisis in early 2017, an analyst at the local unit of Erste Bank told SeeNews that investors were concerned over the impact future events in Agrokor may have on the Croatian economy and the key companies exposed to the concern.
The ZSE's Prime Market has been a part of the bourse structure for some time but no companies have entered it until Tuesday.
(euro=7.42957 kuna)