N. Macedonia's TE-TO shares to be offered for sale

Some 25 shares in TE-TO, representing a 10% stake, will be offered for sale at an auction on February 28, whereas another two TE-TO shares, representing a stake of 0.80%, will be auctioned on February 29, the bourse said.

The shares at both auctions will be offered at a starting price of 39.9 million denars ($700,993/647,783 euro) apiece under the all-or-nothing principle.

TE-TO AD Skopje operates a combined cycle power plant in Skopje with a heating energy capacity of 160 megawatts (MW) and an electricity production capacity of 220 MW. It is majority-owned by Cyprus-based Bitar Holdings Limited, which in turn is owned by Russian power producer TGC-2.

(1 euro = 61.57 denars)