August 26 (SeeNews) - The state-owned Investment-Development Bank of Bosnia's Serb Republic, IRBRS, said it is selling 5,000 preferred shares representing a 20.98% stake in local lender Nasa Banka [BANJ:PIBB-P-A] for a total of 3.3 million marka ($1.7 million/1.7 million euro).
The shares are owned by the Serb Republic's Restitution Fund and Share Fund, each owning 2,500 shares, or 10.48996% of Nasa Banka's share capital, IRBRS said in a filing to the Banja Luka Stock Exchange on Thursday.
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The shares will be offered under the all-or-nothing principle from October 25 to November 7 at a starting price of 0.66 marka per share, below its nominal value of 1 marka.
According to BLSE data from August 25, Serbian company Galens Invest is the largest shareholder in Nasa Banka with a 20.6% stake, followed by local company Pavgord with 20.3%. Local retailer Fructa-Trade is the third largest shareholder with a 14.5% stake.
Nasa Banka's shares have not traded on the Banja Luka bourse in 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)