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Banking

Oil and gas company INA’s IPO expected to strengthen kuna, boost credit growth.

Oil and gas company INA’s IPO expected to strengthen kuna, boost credit growth. The second stage of the privatisation of oil and gas company INA, under which up to 17% stake will be sold to the public via IPO, is expected to strengthen the domestic currency and further boost credit activity. The citizens are offered to buy INA shares for a sum up to HRK 38,000 and although the results of the subscription are to be announced on Monday, unofficial estimates show that some HRK 2bn will be paid by Croatians. Some of them will secure the needed funds through credits offered by some domestic banks. The banks credits could thus grow by some HRK 150-200mn in November.

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