May 31 (SeeNews) - Bosnian civil engineering company Hercegovinaputevi [BANJ:HGPT-R-A] said on Wednesday its majority shareholder, Milodrag Scepanovic, plans to launch an offer to buy the remaining shares it does not already own in the company.
Scepanovic will offer 1.201 marka ($0.65/0.61 euro) per share in the planned buyout offer, the company said in a bourse filing.
You can subscribe to our M&A newsletter here
Scepanovic became obliged to launch a takeover offer for Hercegovinaputevi after increasing his stake in the company to 55.7% on May 29, according to the filing. He held a 21.7% stake in the company on May 25, bourse data shows.
Hercegovinaputevi's share capital is divided into 2,196,788 shares of 1 marka in par value each.
Its shares last traded on the Banja Luka Stock Exchange on May 25, closing flat at 1.20 marka.
(1 euro = 1.95583 marka)