January 15 (SeeNews) - Czech Republic-based trading company Auctor Holding has raised its stake in Croatian pharmaceuticals distributor Medika [ZSE:MDKA-R-A] to 42.44% from 42.41% following a buyout bid, Auctor Holding said.
Auctor acquired eight shares representing a stake of 0.03% in Medika's capital, Auctor said a filing with the Zagreb Stock Exchange (ZSE) on Tuesday.
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Auctor Holding was obliged to launch a buyout bid after it increased its stake in Medika to 42.4% in July. Medika itself holds 9.74% of its own shares.
In December, Medika said it estimating as low the price offered by Auctor Holding in its buyout bid for the remaining 57.6% in Medika it did not yet own. In late November, Croatia's financial regulator, HANFA, gave Auctor the green light for the launch of the buyout bid at 7,716 kuna ($1,153/1,036 euro) per Medika share.
The share capital of Zagreb-based Medika is distributed in 30,194 ordinary shares of 6,930 kuna in par value each.
Medika's shares closed at 16,700 kuna on Tuesday, up 0.6%. They did not trade by 1027 CET on Wednesday.
(1 euro = 7.44511 kuna)