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Haden again fails to sell stake in Bosnia's Bosnalijek

Author Iskra Pavlova
Haden again fails to sell stake in Bosnia's Bosnalijek Photo: Bosnalijek

SARAJEVO (Bosnia and Herzegovina), January 15 (SeeNews) – Luxembourg-based Haden failed to sell its 15.95% stake in Bosnian drug maker Bosnalijek [SAJ:BSNLR] at an extraordinary auction on January 15 as the shares attracted no buyers, the Sarajevo Stock Exchange (SASE) said.

This was Haden's second attempt to sell its holdings in Bosnalijek after a previous action staged in December failed to draw investor interest.

On Wednesday, Haden offered for sale 1,441,286 Bosnalijek shares at 18.85 marka ($10.7/9.6 euro) apiece, the same as in the previous auction, SASE data showed.

Bosnalijek's share capital is divided into 9.037 million shares of 10 marka in par value each.

Prior to its first unsuccessful sale attempt, Haden sold part of its holdings in Bosnalijek representing some 10% of the company's share capital, for 17 million marka, or 18.85 marka per share, at an auction on the SASE in December.

The buyer was Raiffeisen Bank Bosnia and Herzegovina, whose stake in Bosnalijek rose to 11.34% from 1.34%, while Haden's stake shrank to 15.95% from 25.95%.

As of January 10, KBC Euro Credit Capital was the largest single shareholder in Bosnalijek with a 23.67% stake, followed by Haden, Raiffeisen Bank, and Libya's Economic and Social Development Fund with 7.60%, bourse data showed.

Bosnalijek shares last traded on SASE on January 10, closing up 0.06% at 18.01 marka.

(1 euro = 1.95583 marka)