January 2 (SeeNews) - Serbian company Agromarket has increased its stake in the capital of blue-chip civil plant protection products maker Galenika Fitofarmacija [BEL:FITO] to 89.83% from 66.03% as part of a buyout bid, it said.
Agromarket acquired 628,170 Galenika Fitofarmacija shares, or 23.79% stake in the company's capital, it said in a filing with the Belgrade Stock Exchange earlier this week.
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Agromarket, owned by Serbian citizen Dusan Mojsilovic, launched the bid on December 6, aiming to acquire 896,776 Galenika Fitofarmacija shares at a price of 3,050 dinars ($29.1/25.9 euro) apiece until December 30.
The plant protection products maker is one of ten members of the BELEX15 blue-chip index of the Belgrade bourse. It has 2,640,000 listed shares, with a free float factor (FFc) of 48.83%, which account for 12.99% of the total capitalisation of the index.
(1 euro = 117.542 dinars)