Bosnia's ASA Banka Nasa i Snazna launches takeover bid for Bamcard

ASA Banka Nasa i Snazna is offering 155.20 marka ($78.3/79.4 euro) per each Bamcard share in the takeover offer, the bidder said in a filing with the Sarajevo Stock Exchange (SASE) on Friday.

The offer is open for a period of 28 days.

In the offer, ASA Banka Nasa i Snazna acts together with its owner, local ASA Banka. The shares which will be acquired in the takeover bid will be owned by ASA Banka Nasa i Snazna.

Currently, ASA Banka Nasa i Snazna holds 8,870 shares, representing a 20.0312% stake in Bamcard, whereas ASA Banka owns 4,256 shares, representing a 9.6113% stake.

Bamcard's share capital of 2.4 million marka is divided into 44,284 shares, each with a par value of 55 marka.

Bamcard's shares last traded on SASE on August 26, when they closed 0.13% lower at 155 marka.

ASA Banka Nasa i Snazna purchased its stake in Bamcard from ZiraatBank BH, a unit of Turkish lender Ziraat Bankasi, in late August for 1.37 million marka, earlier data by the Sarajevo bourse showed.

ASA Banka Nasa i Snazna operated under the name Sberbank BH until March. ASA Banka acquired it from Austria-based Sberbank Europe, controlled by Russia's Sberbank, for an undisclosed amount, and renamed it to ASA Banka Nasa i Snazna.

(1 euro = 1.95583 marka)