Bosnia's ASA Finance to launch buyout offer for Vakufska Banka

ASA Finance currently holds 554,919 shares in the target company, representing a 73.39% stake, according to a filing published with the Sarajevo Stock Exchange (SASE) on Monday.

The filing confirms a local media report on Wednesday saying that ASA Finance has acquired a majority stake in Vakufska. 

Prior to the report, SASE said in a filing that over 550,000 Vakufska Banka shares were sold at a price of 31 marka apiece. The transaction was valued at a total of 17.2 million marka ($9.7 million/8.8 million euro). 

Vakufska Banka was previously controlled by Badeco Adria d.d. Sarajevo, which held a 73.2% stake in the bank. 

(1 euro = 1.95583 marka)