Shareholders of Croatia's Uljanik shipyard are to pump in new funds as part of its restructuring.

The investors voted at an extraordinary meeting to increase the company's equity by between HRK 180m and HRK 302.22m ($50.1m).

Uljanik is already seeking a strategic partner that will invest about EUR 100m ($123.4m).

So far, letters of intent have been received from Croatian yard tycoon Danko Koncar's Kermas group and Italy's Palumbo Group.