Croatian tanker and bulker owner Uljanik is planning a share placement to existing investors worth HRK 25m ($3.8m).
It said the new preferred stock will be priced at HRK 120 each.
The cash is needed to reduce its loan exposure in order to boost liquidity and strengthen its financial stability.
The shares will have no voting rights, but will pay an annual dividend of 5% of their nominal amount.
