ZAGREB (Croatia), September 21 (SeeNews) - Croatian wood processing company Spacva [ZSE:SPVA] said on Tuesday that local tourism and real estate company Pervanovo has launched a buyout bid for the remaining 69,841 shares in Spacva representing 1.32% interest that it does not already own.
Croatia's financial services regulator Hanfa granted approval for the buyout bid last Thursday, Spacva said in a filing to the Zagreb bourse.
The bid priced at 50.80 kuna per share ($7.9/6.8 euro) is valid 28 days after its announcement in the State Gazette, Spacva said in a bourse filing.
Pervanovo holds 5,206,681 shares in Spacva, representing 98.68% interest.
Spacva holds 2,735 own shares, equal to 0.05% of its share capital.
Spacva's capital totals 105.5 million kuna divided into 5,276,522 ordinary shares with a par value of 20 kuna each.
Spacva's shares last traded on the Zagreb bourse on August 23 when they closed at 43 kuna, unchanged from the previous closing price.
On Friday, the bourse put Spacva's shares under monitoring due to Hanfa's decision to approve the buyout bid.
(1 euro=7.501 Croatian kuna)