You have 3 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Biggest shareholder raises stake in Bosnia's Nova Sirovina in buyout bid

Biggest shareholder raises stake in Bosnia's Nova Sirovina in buyout bid Bosnian marka Source: www.vladars.net

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.

You can subscribe to our M&A newsletter here

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)

Share this story
SeeNews in Brief

View our Newsletters

 
Compare