September 23 (SeeNews) - Bosnian construction company GP Ljubic launched a bid to take over local peer GP Gradip [BANJ:GRDP-R-A], offering 0.88 marka ($0.5/0.4 euro) per share, Gradip said on Thursday.
The takeover offer is valid for 30 days from the day it is published, according to a bourse filing posted by Gradip.
You can subscribe to our M&A newsletter here
Gradip said on Wednesday that the securities commission of Bosnia's Serb Republic has cleared the planned bid by Ljubic.
Ljubic currently holds 1,422,928 Gradip shares, equal to a 41.40% stake in the company.
Gradip's shares closed flat at 0.88 marka on the Banja Luka Stock Exchange on Thursday.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)