SARAJEVO (Bosnia and Herzegovina), January 31 (SeeNews) – Luxembourg-based Haden has lowered by 30% the ask price of its 15.95% stake in Bosnian drug maker Bosnalijek [SAJ:BSNLR] it is attempting to sell on the Sarajevo Stock Exchange (SASE), bourse data showed.
Haden is now offering for sale its 1,441,286 shares in Bosnalijek at a price of 13 marka ($7.3/6.6 euro) per share at an auction on February 4, according to a notice published by SASE on Thursday.
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In its previous three attempts to sell the minority stake, Haden offered the shares at a price of 18.85 marka apiece.
Bosnalijek shares closed 1.13% lower at 15.8 marka in regular trading on the SASE on Thursday.
Prior to the first unsuccessful attempt to sell the 15.95% stake, 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 a SASE auction 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 24, 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%, according to the latest available bourse data.
Bosnalijek's share capital is divided into 9.037 million shares of 10 marka in par value each.
(1 euro = 1.95583 marka)