May 19 (SeeNews) - The securities commission of Bosnia and Herzegovina's Serb Republic cleared a planned takeover offer for local lender Nasa Banka [BANJ:PIBB] by GI Finance, Nasa Banka said on Friday.
GI Finance has to launch the planned takeover offer within seven days from the regulatory approval, Nasa Banka said in a filing to the Banja Luka Stock Exchange (BLSE).
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GI Finance became obliged to make the takeover offer after acquiring 3,124,875 shares, equal to a 11.495986% stake in Nasa Banka, on March 31, the company said in an earlier statement.
GI Finance plans to offer 0.8056 marka ($0.45/0.41 euro) per each Nasa Banka share in the takeover offer.
In the offer, GI Finance will act together with Serbia's Galens Invest, which holds a 22.240252% stake in Nasa Banka and Bosnia's G-Inzenjering, which holds a 4.131716% stake in the bank.
Nasa Banka's capital totalls 33.18 million marka, divided into 33,182,313 shares with a par value of 1 marka each.
The bank's shares last traded on the BLSE on March 1, closing at 0.80 marka, unchanged from the previous trading session.
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)