February 13 (SeeNews) - Austria's CID Adriatic Investments (CID), majority owner of Bosnia's diversified holding company Badeco Adria [SAJ:FDSSR], said it plans to launch a buyout bid for the remaining 4.6047% stake it does not already own.
CID currently owns 1,042,939 shares, representing a 95.3953% stake in Badeco Adria, the investor said in a filing lodged with the Sarajevo Stock Exchange (SASE).
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The remaining interest is split among individual investors, each holding less than 1%, according to SASE data last updated on February 10.
Badeco Adria's capital of 109.3 million marka ($59.7 million/55.9 million euro) is divided into 1,093,281 shares, each with a par value of 100 marka. The stock closed flat at 200 marka on the SASE on Friday. They did not trade by 12:20 CET on Monday.
Badeco Adria is the legal successor to FDS, a former tobacco company which was established in 1880. The former company went into a restructuring process and changed its name into Badeco Adria in 2018. Currently, the company operates businesses in the tobacco, food and financial industries.
(1 euro = 1.95583 marka)