It now only needs a regulatory approval to complete the transaction.

The Zagreb Stock Exchange raised 14.9 million kunas (EUR 2m) in the recapitalisation completed on Wednesday. After poor response of shareholders in the first round, EUR 1.4m worth of new shares were subscribed in the second phase.

The success of the capital injection was also endorsed by the supervisory board of the Zagreb Stock Exchange as it met on Wednesday.

The Zagreb bourse now only needs the go-ahead from the Slovenian Securities Market Agency to complete the acquisition from the CEE Stock Exchange Group (CEESEG), the current owner of Ljubljana Stock Exchange.

The value of the deal was not disclosed as the deal on the sale was signed in July. But the business daily Finance reported unofficial information valuing it at between EUR 1m and 1.5m.

This is only a fraction of the EUR 47m that Wiener Börse, which later transformed into CEESEG, paid in acquiring the Ljubljana Stock Exchange seven years ago.