The Croatian government on Friday published a call for expressions of interest and non-binding offers to gain 99.13% share in the Croatian Postal Bank (HPB), the Finance Ministry said in a statement.
On behalf of the government, the Ministry of Finance intends to sell 99.13% of its ownership share in HPB. The privatisation of the bank will be carried out through an international tender and the government calls on all interested parties to submit their expressions of interest in writing to the government financial advisor on this matter - the Confida-Revizija company - by 31 August.
The financial advisor will then forward to investors an information memorandum and notify them of further steps.
Interested investors will be asked to submit their non-binding offers by 20 September.
Pursuant to a decision adopted on 18 July, the government intends to sell 871,142 shares in HPB worth HRL 1,100 per share and HRK 958.2 million in total.
In H1, HPB generated HRK 61.4 million in net profit, a mild increase from the same period in 2012 when the banks net profit amounted to HRK 61 million.
