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Arena Hospitality Group d.d. enters Zagreb stock exchange Prime market
December 18, 2018, Zagreb – Arena Hospitality Group d.d. has entered prestigious Prime Market of the Zagreb Stock Exchange.
An agreement for the transfer of Arena Hospitality Group d.d. shares from the Official Market to the Pime Market was signed in Zagreb by Reuel Slonim, President of the Management Board of the Arena Hospitality Group d.d., and Ivana Gazic, President of the Management Board of the Zagreb Stock Exchange.
Reuel Slonim said: Being among the first companies listed on the Zagreb Stock Exchange's Prime Market makes us extremely proud. We began the transformation of Arena Hospitality Group in 2016, and today's transition is yet another important step forward for our company. Former Arenaturist, a company with a rich history and heritage, formerly with a domestic and highly seasonal character, has now been transformed into an international company with year-round business. By expanding our portfolio beyond the borders of the Republic of Croatia, we became the first hospitality company listed on the ZSE which, amongst others, manages hotels in Berlin, Cologne, Budapest... I want to recall again June 2017, an important date for us, when the first international public offering by a Croatian tourism company was completed, with which we raised proceeds of HRK 788,4 million. This represents the largest fundraising by a Croatian company since 2007. The equity proceeds were raised with the aim of growing the company further, refurbishing existing assets and expanding its presence regionally and internationally. We have started deploying the proceeds raised by investing in our luxurious camp dedicated to glamping - Arena One 99 Glamping, and are continuing our investments in camp Arena Kažela, our largest campsite, alongside other investments that we are considering and actively reviewing. Moreover, we have amended our scope for the refurbishment of Hotel Brioni and are finalising the new sample rooms. Refurbishment expected to start in September 2019 with an estimated investment of over HRK 160 million. Today's transition from the Official to the Prime Market clearly shows our permanent strive towards excellence, both in our core business and other aspects fundamental to our company.
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 Arena Hospitality Group d.d.  has decided to take this important step. Hopefully other issuers will follow this example of their commitment to the highest standards by switching to the Prime Market, Ivana Gazic, President of the Management board of the ZSE, said.

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