Croatia Airlines d.d. (ZGSE:CRAL) announced a private placement of 35,000,000 shares at an issue price of HRK 10 per share for gross proceeds of HRK 350,000,000 on December 15, 2020. The transaction will involve participation from returning investor, Croatia. The transaction was approved by the shareholders of the company. The investor Croatia, currently owns 99% stake in the company.