Pavo Miskovic Miskovic & Miskovic the targeted amount was €1 billion, so the fact that the total nominal issued amount was 85% higher once more confirms this was a great success story. What are the implications for the wider Croatian economy? There are several positive impacts, not only from the financial perspective. First of all, the Croatian capital market is not fully developed and we all truly believe this bond issuance and listing at Zagreb Stock Exchange will also educate the mass market on the capital market transaction. Second, from the investor’s perspective, retail this transaction, so late night and weekend conference calls were not uncommon. In addition, it was challenging to advise the six largest local banks simultaneously, with each bank having their own set of internal procedures regarding GDPR, AML and branch organisation from a retail perspective. We had to anticipate and mitigate every potential legal risk which could occur during the period of subscription for the retail investors, which lasted seven days. In the end, the fact that more than 45.000 retail investors subscribed to bonds in 550 branches within one week, and that no single legal or other risk occurred, is proof we all did great job in structuring this transaction and execution of it. On top of this, before subscription started, 96 LAWYER MONTHLY JUNE 2023 Our word is our bond and we will deliver no matter the circumstances.
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