Hajduk Split to offer shares for sale

Tag : Sports Stock

It was unclear if and when the shares will be listed on the stockexchange.
"It is certainly possible that Hajduk, like any other shareholdingcompany, will be listed, but it depends on the ownership structureor what percentage of the stock could become available for freefloat," said the spokesman for the Zagreb stock exchange, ZeljkoKardum.
Hajduk, six-times Croatian and 11-times Yugoslav champions, are oneof a number of top flight clubs that have amassed debts sinceCroatia became independent from Yugoslavia in 1991.
Croatian soccer clubs are currently registered as non-profit"associations of citizens". According to a new sports bill, aimedat regulating legal and financial aspects of soccer, all clubs thathave debts will have to become shareholding companies to avoidgoing bust.
Others will be able to choose whether to keep the current status orseek an owner.
No one will be able to buy shares worth more than 25 percent of aclub's base capital without approval of the commission forprofessional clubs, to prevent any speculative deals.
(Reporting by Igor Ilic; Editing by Paul Bolding)