Tigar continuing process of conversion of debt into equity – State becomes biggest shareholder with 42.2%

Pirot's Tigar has continued the process of conversion of debt into capital and reported that they've issued an additional 3.2 million of shares. The total number of the company's shares has thus reached 7.6 million.

A large majority of these shares is distributed to the Republic of Serbia, to the end of covering Tigar's debts towards the Deposit Insurance Agency, the Development Fund and the Ministry of Finance. These shares were issued at the nominal value of RSD 374 per share, and Tigar's total debt has thus been reduced by RSD 1.2 billion.

Following the new issue of shares, the Republic of Serbia became the biggest shareholder in Tigar, with an ownership stake of 42.2%, Wisebroker reports.

Tigar a.d. Pirot

Agencija za osiguranje depozita Beograd

Fond za razvoj Republike Srbije Niš

Ministarstvo finansija Republike Srbije

Tigar Pirot

conversion of Tigar debt into equity

Pre Packaged Reorganization Plan

PPRP

Tigar debt