SARAJEVO (Bosnia and Herzegovina), April 6 (SeeNews) - Bosnian water and waste management company Nova Sirovina [BANJ:NSRV-R-A] said on Wednesday that its largest shareholder, Drago Malinovic, has launched a buyout offer for the shares in the company he does not already own.
Malinovic is offering 0.72 marka ($0.4/0.37 euro) per share in the offer which will expire 30 days after the announcement, Nova Sirovina said in a bourse filing.
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The securities commission of Bosnia's Serb Republic approved Malinovic's buyout bid for Nova Sirovina earlier this week.
Malinovic currently holds a 90.11% stake in Nova Sirovina, Banja Luka Stock Exchange (BLSE) data showed. The remainder is split among investors who own less than 5% each.
Nova Sirovina's share capital is divided into 5,886,822 shares, each with a par value of 1 marka.
The company's shares have not traded on the BLSE over the past year.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)