New Share Issue For Pliva?

The Croatian pharmaceutical company Pliva, which is the first Croatian firm to list its shares outside the country, has indicated that it might consider a new share issue at a later stage to finance further development, according to local reports.

Zelijko Covic, Pliva's chief executive, told a press conference: "our investment cycle at the moment does not require a new issue of shares, but it may be necessary for some future project."

Mr Covic suggested that Pliva's total investment by the year 2000 could reach around 400 million Deutschemarks ($261.2 million). The company currently has six projects at different stages of development.