It has invited letters of intent from potential buyers for a70.03% holding.

The 1.146m shares are owned by the government, the statepension fund and a state agency for bank rehabilitation.

The deadline to register interest in 26 March, Seenewsreported.

The stock was trading up 15.76% at HRK 120 ($21.47) on Mondayin Zagreb, giving the stake a potential value of $24.6m.

Split-based Jadroplov has eight handysizes and supramaxesbuilt between 1997 and 2010, plus four 37,000-dwt ships on order at thedomestic 3 May yard for delivery in 2016 and 2017.