The Croatian IT company - Span has sold 578,200 shares at a price of HRK 175 per share though a public offering , raising close to HRK 101.2 million, it was said in Zagreb on Tuesday, when the Zagreb Stock Exchange (ZSE) and Span signed an agreement on the listing of Span's shares on the ZSE Official Market.

Span’s shares were bought by more than 1,000 shareholders, and trading in them will start on 23 September.

Marked SPAN-R-A, all of the company’s 1,960,000 shares were listed on the Official Market. Span is the first domestic IT company after Ericsson Nikola Tesla to have its shares listed on the ZSE.

Span CEO Nikola Dujmović said interest in the company’s shares, both from qualified and small investors as well as Span employees, had been very high, with demand by far exceeding the offer. Bids could be submitted from 6 to 10 September.

Span had offered 578,200 shares or 29.5% of its stock capital, with the price ranging from HRK 160 to 175. Following registration, Span decided that the final price should be set at HRK 175 per share.

Qualified investors have acquired 55.9% of the 578,200 shares, followed by small investors, who acquired 35.6% of the offered shares.

Span employees bought 49,000 shares or 8.5%. They could each buy a maximum of 1,500 shares and small investors could buy a maximum of 19,600 shares. There was no limit for qualified investors, who bought the most shares.