SARAJEVO (Bosnia and Herzegovina), January 27 (SeeNews) – Luxembourg-based Haden is offering for sale its 15.95% stake in Bosnian drug maker Bosnalijek [SAJ:BSNLR] at an auction on January 29, the Sarajevo Stock Exchange (SASE) said.
This will be Haden's third attempt to sell its holdings in Bosnalijek after the previous actions held in December and mid-January failed to draw investor interest.
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Haden is again offering 1,441,286 Bosnalijek shares at a price 18.85 marka ($10.7/9.6 euro) apiece - the same parameters as in the unsuccesful two auctions, SASE said in a notice on Friday.
Interested investors will be able to bid for no less than 288,257 Bosnalijek shares in a single block. The deadline for the submitting of bids is January 27.
Bosnalijek's share capital is divided into 9.037 million shares of 10 marka in par value each.
Prior to its 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%, latest available bourse data showed.
Bosnalijek shares rose 0.22% to 16.25 marka on SASE on Friday. They did not trade at opening on Monday.
(1 euro = 1.95583 marka)