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Bosnia's Nova Sirovina biggest shareholder plans buyout bid

Bosnia's Nova Sirovina biggest shareholder plans buyout bid Bosnian marka Source: www.vladars.net

SARAJEVO (Bosnia and Herzegovina), February 22 (SeeNews) - Bosnian water and waste management company Nova Sirovina [BANJ:NSRV-R-A] said on Tuesday that its largest shareholder, Drago Malinovic, intends to launch a takeover offer for the shares in the company he does not already own after raising his stake in the company to 90.11%.

Malinovic intends to offer 0.72 marka ($0.42/0.37 euro) per share in the planned buyout bid, Nova Sirovina said in a bourse filing.

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Nova Sirovina's share capital is divided into 5,886,822 shares, each with a par value of 1 marka.

Malinovic currently holds 5,304,615 shares of Nova Surovina, the filing reads. Malinovic held a 60.8% stake in the company on February 17, Banja Luka Stock Exchange (BLSE) data showed.

Dzordza Trivunovic is the second largest shareholder in Nova Surovina with a 29.3% stake, whereas the remainder is split among investors who hold less than 5% each.

Nova Sirovina's shares did not trade on the BLSE in the past year.

(1 euro = 1.95583 marka)

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