SARAJEVO (Bosnia and Herzegovina), February 4 (SeeNews) – Luxembourg-based Haden sold on Tuesday its 15.95% stake in Bosnian drug maker Bosnalijek [SAJ:BSNLR] for 18.8 million marka ($10.6 million/9.6 million euro), Sarajevo Stock Exchange (SASE) data showed.
Haden sold 1,441,286 shares in Bosnalijek at a price of 13 marka per share in a single transaction at an extraordinary bourse auction, data from SASE's website showed. The name of the buyer was not revealed.
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This was Haden's fourth attempt to sell its remaining stake in Bosnalijek, with the ask price going down from 18.85 marka apiece in the previous three attempts.
In regular trading, Bosnalijek shares last traded on SASE on Thursday, closing down 1.13% at 15.8 marka.
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 at 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 31, KBC Euro Credit Capital was the largest single shareholder in Bosnalijek with a 23.67% stake, still 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)