Croatia’s Žito shares debut on Zagreb Stock Exchange after record €130mn IPO


Croatia’s Žito shares debut on Zagreb Stock Exchange after record €130mn IPO

Croatia’s Žito shares debut on Zagreb Stock Exchange after record €130mn IPO. / bne IntelliNews
By bne IntelliNews July 28, 2025

Shares of Žito Group, one of Croatia’s largest agri-food companies, began trading on the Zagreb Stock Exchange on July 28 following the country’s biggest initial public offering (IPO) by a privately owned company, which raised €130mn.

Founded in eastern Croatia’s Slavonia region, Žito Group is a key player in domestic agriculture, managing over 21,000 hectares of arable land and partnering with more than 3,300 subcontractors who cultivate an additional 66,000 hectares. The company leads Croatia in egg production, is a top oilseed processor, and ranks as the second-largest pig producer.

A total of 25,607,675 ordinary shares, trading under the symbol ZITO, were listed on the exchange’s Official Market. The company allocated 6.4mn shares in the IPO at a final price of €20.30 per share. The offering attracted over 4,100 retail investors, 27 institutional investors, and more than 300 Žito employees.

"This is a historic day for Žito and for the Croatian capital market," said Marko Pipunić, president of Žito’s management board, a press release from the company said. "We are proud that investors and our employees have placed their trust in us. With this capital, we will drive growth in all segments and invest in the future of Slavonia and the region."

Žito plans to invest an additional €105mn as part of a new investment cycle focused on expansion through acquisitions, efficiency improvements and organic development, according to board member Jozo Ljubičić.

“We are particularly pleased by the strong participation of small investors from across all Croatian counties,” said Ivana Gažić, CEO of the Zagreb Stock Exchange. “This IPO demonstrates growing confidence in the capital market and highlights Slavonia’s economic potential.”

Deputy Prime Minister and Finance Minister Marko Primorac also welcomed the listing, calling it a model for ownership transition and institutional transformation in the Croatian business landscape.

“Žito is now accountable to more than 4,500 shareholders. This IPO isn’t just a financial achievement; it’s an example of the transformation many domestic companies should pursue,” he said, adding that the government is committed to supporting capital market development through its strategic framework.

Zagrebačka banka served as the independent offering and listing agent for the transaction.

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