N. Macedonia's Orka Holding to launch takeover bid for Zito Polog

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.

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)