October 29 (SeeNews) - Cyprus-based Altaria Research Limited said on Thursday it will launch a buyout bid for the remaining 2.8% of Serbian power trader Rudnap Group it does not yet own.
Altaria offers to pay 540 dinars ($8.6/5.8 euro) for each of the 38,595 stocks it wants to buy from October 30 until November 19, it said in a filing to Serbia’s Central Securities Depository and Clearing House.
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Rudnap Group stock last traded on the Belgrade bourse on October 21, closing flat at 428 dinars in a volume of just nine shares.
Altaria said it owns 100% of Rudnap’s units based in Austria, Hungary, Macedonia, Croatia and 99% of Romania’s Rudnap SRL.
($=93.5053 euro)