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Bosnian oil wholesaler NES to launch takeover bid for Krajinapetrol

Bosnian oil wholesaler NES to launch takeover bid for Krajinapetrol raybon/Shutterstock.com

BANJA LUKA (Bosnia and Herzegovina), November 19 (SeeNews) - Bosnian wholesaler of oil products NES DOO said it has acquired 32.24% of the share capital of local comany Krajinapetrol [BANJ:KRPT-R-A], triggering an obligation to launch a takeover bid for the fuel trader.

The wholesaler currently owns 4.47 million Krajinapetrol shares out of the total 13.87 million shares with a nominal value of 1 marka, a regulatory filing on the Banja Luka stock exchange showed.

The fuel trader's market capitalisation stands at 10.12 million marka ($5.73 million/5.17 million euro), based on current share prices. Shares in the firm were trading 1.35% lower at 0.73 marka on Tuesday in Banja Luka at 1515 CET.

In October, Krajinapetrol reported a 107.67% surge in net profit in the first nine months of 2019 to 995,092 marka. The company's total assets amounted to 24 million marka at the end of September, compared with 22.4 million marka a year earlier. 

($ = 0.9027 euro)

 

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