Croatia will list 15% of the state oil and gas group INA, partly owned by Hungary's MOL on London, New York and Zagreb exchanges at the end of November, an INA executive said on Wednesday. The initial public offering would be preceded by a roadshow in early November.
Our view: It was widely expected that INA will do the IPO sometime in November, however New York as a listing place is new for us. Due to somewhat stricter rools in US we expect the process and the information to become even more transparent, which could be beneficial for the minority shareholders.