A public auction to sell the state-owned interest in the Suncani Hvar hotel company did not manage to attract any buyer, the Zagreb Stock Exchange (ZSE) reported on Monday.

The auction was held at the ZSE at the request of the Restructuring and Sales Centre (CERP) putting up 5.8 million shares or 29.94% of the equity capital in Suncani Hvar.

The nominal value of the shares offered amounts to HRK 116.26 million and the shares were put up for sale at a starting price of HRK 28 per share or a total of HRK 162.77 million.

The Stock Exchange reported that "there were no bids submitted in the public auction procedure."

CERP decided in late May that the public auction for the sale of 29.94% of the capital equity would be scheduled for 13 June on the ZSE.

"Shares of SUNCANI HVAR d.d., Hvar (hereinafter: Company) may be purchased only as a whole package, meaning that the size of the package is identical to the quantity of the auction item and the starting price is quoted for the entire package. Package of shares will be sold in auction with a variable ending according to Zagreb Stock Exchange Rules," according to the CERP's press release on 23 May.

"Ownership over the offered shares may be obtained by domestic and foreign legal and natural persons in accordance with the regulations of the Republic of Croatia, through the public Auction represented by a registered member of the Zagreb Stock Exchange, Inc, of their own choice."

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