Upon the resumption of the trading in INA shares on the Zagreb Stock Exchange (ZSE), which was temporarily suspended for two hours until noon Wednesday, the price of INA share went down to HRK 3,800 after 1200 hrs Wednesday.
The previous suspension was linked to the developments in Syria.
"Due to the developments in Syria, INA reduced the crude oil and natural gas production for approximately 1.3 thousand of boe/day in addition to already announced September crude oil production decrease of 1.5 thousand bbl per day," read the INA's press release issued on the ZSE on Wednesday morning.
"The extension of the scope of EU sanctions by the EU Council implementing Decision of 1 December 2011 and also the increasing political instability in Syria effect INA’s Syrian operations," read the press release from the leading Croatian oil and gas group.
"On 21 December 2011 INA has requested from both the Zagreb Stock Exchange and the London Stock Exchange to temporarily suspend the trading of INA shares / DR’s until 9 January 2012 due to the above detailed high unpredictability of the current developments influencing INA's Syrian activities and which are all beyond INA’s control with highly uncertain outcome."
"INA will be following closely the developments related to its Syrian operations and will provide regular updates to the ZSE, LSE, HANFA, FSA and to the capital market participants," the company's statement concluded.
Prior to the suspension, INA share price plummeted by 0.25 percent to HRK 3,870 with a meagre volume of trading totalling HRK 58,000.
The ZSE okayed the resumption of the trading at noon. The trading in INA's shares from 1200 hrs to 1215 hrs was conducted under the premarket model and as of 1215 hrs the continuous trading started with the limits of the price change of 25 percent.
