August 25 (SeeNews) - North Macedonia's Securities and Exchange Commission (SEC) said on Friday it gave the green light to Sashko Kuzmanov, the biggest shareholder and CEO of local textile products manufacturer Edinstvo [MSE:EDIN], to launch a takeover offer for the company.
Kuzmanov plans to offer 80 denars ($1.4/1.3 euro) per share in the takeover bid, targeting 7,734 shares in Edinstvo, representing a 19.1% stake, the SEC said in a notice.
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The investor currently holds 17,232 shares, equal to a 42.66% stake, in Edinstvo.
In the offer, Sashko Kuzmanov acts together with Iljo Kuzmanov, who owns a 38.20% stake in the company.
Edinstvo's equity capital is divided into 40,397 shares of 35.79 euro in par value each.
Its shares last traded on the Macedonian Stock Exchange (MSE) on July 11, at an average price of 80 denars.
(1 euro = 61.51 denars)