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ING-GRAD’S INTIAL PUBLIC OFFERING

As one of the most-talked business topics in Croatia, we are happy to share that we acted for ING-GRAD, on their Initial Public Offering (IPO) with a plan to raise around EUR 55 million by selling 30% of its treasury shares on the Zagreb Stock Exchange.

ING-GRAD d.d. is a renowned Croatian construction company founded in 1985. Over the years, ING-GRAD has distinguished itself as one of the leading construction companies in Croatia, recognized for its stability, consistent growth and uniform development across all segments of the business. Working under the slogan „Building the Future, restoring the Heritage“ they have restored and reconstructed many historical and sacral buildings.

Regarding the IPO, ING-GRAD aims to offer 1.2 million shares on the Zagreb Stock Exchange, marking one of the larger IPOs in Croatia since 2021. The price range is set between EUR 37 per share and EUR 46 per share. In regard to the expected usage of the IPO proceeds, ING-GRAD plans to use the funds for strategic acquisitions, particularly in geotechnical engineering as well as other specialized construction segments. It aims to improve employee rewards and retention and to attract talent across the industry. Lastly, it aims to strengthen the financial position for future growth and project execution.