The Bermuda Stock Exchange yesterday announced the approval of the listing 87 million additional ordinary shares of Jupiter Adria Ltd., the proceeds of which will be used to finance high end leisure and tourism resorts in Croatia.

The shares were sold in a private placement which closed on November 14.

This listing was made under the restricted marketing provisions of the Exchange and was for securities aimed at qualified investors, being individuals or institutions that invest either a minimum of $100,000 or otherwise meet one of the suitability tests defined by the Exchange.

Garth Lorimer Turner of Jupiter commented: "We are delighted with the full subscription to the second round private placement having raised a further EUR100 million to continue Jupiter Adria Limited's investment programme in the development and operation of high end leisure and tourism assets in Croatia."