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Biggest shareholder launches buyout bid for Bosnia's Posavina

Biggest shareholder launches buyout bid for Bosnia's Posavina Bosnian marka Source:

SARAJEVO (Bosnia and Herzegovina), May 6 (SeeNews) - Slobodan Dzukic, the largest shareholder of Bosnian real estate company Posavina Srbac [BANJ:PSVN-R-A], launched an offer for all the shares in the company he does not already own, he said on Friday.

Dzukic is offering 0.56 marka ($0.30/0.29 euro) per share in the buyout bid, he said in a bourse filing.

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The takeover offer is valid for 30 days after the announcement.

Posavina's share capital of 3.46 million marka is divided into 3,464,565 shares of 1 marka in par value each. Dzukic currently holds 1,028,829 shares, representing a 29.7% stake in the company.

The securities commission of Bosnia's Serb Republic approved the takeover offer earlier this week.

Posavina's shares last traded on the BLSE on December 24, closing 5.71% higher at 0.37 marka.

The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.

(1 euro = 1.95583 marka)

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