N. Macedonia's Orka Holding slightly grows stake in Zito Polog

Some four Zito Polog shareholders controlling 0.71% interest among themselves accepted the takeover offer of Orka Holding, SEC said in a statement earlier this week.

Orka Holding's takeover offer was declared successful because a threshold of success has not been determined, SEC said.

Orka Holding in February launched a takeover offer to buy 27,596 shares in Zito Polog which it did not already own, proposing to pay 2,266 denars ($39.7/36.8 euro) per share. The targeted shares represented a 49.3% stake in the company.

Zito Polog shares last traded at an average price of 2,266 denars on the stock exchange in Skopje on June 6.

Skopje-based Orka Holding was established in 1990. The group has over 20 companies with more than 1,800 employees.

(1 euro = 61.53 denars)