January 13 (SeeNews) - Bosnian bentonite-based product maker Bentoproduct said on Friday it has launched a takeover offer for local mining company Nemetali [BANJ:NMTL-R-A].
Bentoproduct is offering 0.32 marka ($0.18/0.16 euro) per each Nemetali share in the takeover offer, it said in a filing with the Banja Luka Stock Exchange (BLSE).
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The offer is valid for 30 days from the announcement date.
In the offer, the investor acts together with individual shareholder Adam Vitarigov, who holds 499,902 shares representing 62.18% interest in Nemetali. Bentoproduct does not own any shares in Nemetali.
Other Nemetali shareholders include local Business Center with a 21.2% stake, individual shareholder Rizvan Azkhabov with a 5% stake and Nikola Kantar with a 3.2% stake. The remaining interest is split among individual investors holding less than a 1% stake, BLSE data updated on January 12 showed.
The securities commission of Bosnia and Herzegovina's Serb Republic cleared the takeover offer for Nemetali by Bentoproduct earlier this week.
Nemetali's equity capital of 803,927 marka is divided into 803,927 shares, each with a par value of 1 marka. The shares last traded on the BLSE on November 3, when they closed 3.81% higher at 0.30 marka.
The Serb Republic is one of two autonomous entities which form Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)