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Nov 24, 2023 10:43 EEST
November 24 (SeeNews) - North Macedonia's diversified company Orka Holding said on Friday that it plans to launch a takeover offer for local flour milling company Zito Polog [MSE:ZPOG].
The takeover offer will be launched after receiving an approval by the local Securities and Exchange Commission, Orka Holding said in a notice filed with the Skopje bourse.
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Orka Holding held a 23.10% stake in Zito Polog as of the end of 2022, the flour milling company's last annual statement shows.
Zito Polog shares last traded at an average price of 2,266 denars ($40.1/36.8 euro) 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 = 61.63 denars)
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