SARAJEVO (Bosnia and Herzegovina), May 18 (SeeNews) - Drago Malinovic, the largest shareholder of Bosnian water and waste management company Nova Sirovina [BANJ:NSRV-R-A], said that he has increased his stake in the company to 93.4587% after launching a buyout bid.
Shareholders of Nova Sirovina holding a total of 196,847 shares, representing a 3.3439% stake, have accepted Malinovic's offer, the bidder said in a bourse filing on Tuesday.
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Malinovic launched in April a buyout offer for the shares he does not already own in Nova Sirovina, offering to pay 0.72 marka ($0.39/0.37 euro) per share.
Prior to the offer, Malinovic held 5,304,899 Nova Sirovina shares, equal to a 90.114819% stake.
The company's shares have not traded on the BLSE over the past year.
(1 euro = 1.95583 marka)