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Montenegro boosts stake in power utility EPCG

Author Senad Dedeic
Montenegro boosts stake in power utility EPCG Source: EPCG

PODGORICA (Montenegro), September 23 (SeeNews) - The Montenegrin state boosted to 91.4% from 88.65% its stake in power utility Elektroprivreda Crne Gore AD Niksic (EPCG) [MNG:EPCG] in a 15 million euro ($14.62 million) transaction on the stock exchange on Friday, the bourse said.

The government bought 3,340,757 EPCG shares out of a package of 11,813,238 shares on offer at 4.49 euro each, the Montenegro Stock Exchange said in a statement.

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The remaining shares attracted no buyers.

EPCG's capital is composed of 118,132,402 shares with a nominal price of 6.52 euro apiece. The company is listed on the free market segment of the Montenegro Stock Exchange.

($ = 1.02587 euro)