03/10/2025 14:28
After several years, ING-GRAD becomes the first construction company listed on the domestic stock exchange
During the public offering, nearly half of ING-GRAD's employees purchased shares, along with 2,480 small investors. By selling a total of 1,320,000 shares—10% more than initially offered—the company raised €60,720,000.
Zagreb, March 10, 2025 - After the successful completion of the IPO, during which all offered shares were sold at the maximum price of €46, all 3,990,000 ING-GRAD shares were listed on the Zagreb Stock Exchange on Friday, and official trading began today. The company enters this new phase with more than 2,600 new shareholders. The new ownership structure consists of Qualified Investors, who hold about 59%, Small Investors, who own approximately 38% of the offered shares, and ING-GRAD employees with around 3% of the shares.
The strong interest from all investors has ensured a balanced shareholder structure, allowing us to enter this new phase of business. I am particularly proud that nearly half of our employees have become co-owners of ING-GRAD, as this reflects the trust they have in the company's stability and successful future, into which they have invested years of hard work, effort, and knowledge. I thank everyone who has shown their trust in us—institutional investors, many citizens, and other small investors. I look forward to sharing our future successes with all of them, as a true shareholder company, said Branislav Brizar, CEO of ING-GRAD.
The interest from investors during the public offering was significantly higher than the 1,200,000 shares initially offered, which led to an increase in the offering by an additional 120,000 shares through the activation of the over-allotment option. The maximum price of €46 per share in the offered range was achieved, and by selling all 1,320,000 shares, the company raised a total of €60,720,000.
We are very pleased that the first listing of the year is ING-GRAD's shares. This is a very important event for the domestic capital market as it brings another share in the attractive and highly dynamic construction sector. The share also has a very high free float, which is a key prerequisite for liquidity. This whole process is further confirmation that with good preparation and an interesting investment story, investor interest will follow. Every new listing represents a further boost to transparency and the development of the domestic capital market, expanding investment opportunities for investors, said Ivana Gažić, CEO of the Zagreb Stock Exchange.
For the first 30 days of trading, Interkapital, as the Offer and Listing Agent, will act as the market stabilizer. We are extremely proud to have been part of this successful story and that ING-GRAD is now beginning a new chapter as a company listed on the Zagreb Stock Exchange. This step is not only a confirmation of the company's successful business and long-term stability, but also a strong signal of investor confidence in the construction sector, which is rapidly growing and making up an increasing portion of gross added value. In such an environment, the listing of one of the leading construction companies is a crucial move that contributes to greater transparency, attracting capital, and further strengthening this sector, as well as the market as a whole, concluded Tonći Korunić, Senior Partner at Interkapital, ahead of the start of trading in ING-GRAD shares.
