Bosnia's Serb Republic to take over Sarajevo Gas

The Serb Republic has mandated state-run Investment-Development Bank (IRBRS) and its Pension Reserve Fund to acquire all the shares they do not already own in Sarajevo Gas, the gas distributor said in a bourse filing on Tuesday.

Currently, the Serb Republic owns 44.99% of Sarajevo Gas. It holds the interest through its Share Fund, which has a 29.99% stake, the management company of the Pension Reserve Fund, which holds a 10% stake, and the Restitution Fund, which owns a 5%, bourse data shows.

Among the remaining shareholders, the largest single stake of 31.7% in Sarajevo Gas is held by a custodial account held by local lender Raiffeisen Bank, followed by local investment fund Kristal Invest, which owns 19.99% interest. The remainder is held by individual shareholders with less than 1% interest each.

Sarajevo Gas' shares last traded on the Banja Luka Stock Exchange (BLSE) on August 31, when they closed flat at 0.70 marka ($0.36/0.36 euro).

Sarajevo Gas transports and distributes gas in the municipalities of Istocna Ilidza and Istocno Sarajevo.

The Serb Republic is one of two entities that make up Bosnia and Herzegovina. The other is the Federation.

(1 euro = 1.95583 marka)