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Serbia's Ekstra-Pet to launch buyout bid for local trading firm Hempro

Author Iskra Pavlova
Serbia's Ekstra-Pet to launch buyout bid for local trading firm Hempro Mark Rubens/Shutterstock.com

BELGRADE (Serbia), August 23 (SeeNews) - Serbian PET packaging producer Ekstra-Pet said on Friday it plans to launch a buyout bid at Belgrade-based trading firm Hempro [BEL:HMBG] .

Ekstra-Pet, which owns a 23.05% stake in Hempro, will be acting in the bid together with local individual Zvonko Gobeljic, who controls 66.65% of Hempro, Ektra-Pet said in a Belgrade bourse filing.

The packaging producer will be aiming to buy the remaining 10.3% of Hempro, which it and its partner do not own yet, the statement said without providing the price the buyers plan to offer per each of the 29,962 outstanding Hempro shares they target.

Ekstra-Pet added it will ask Serbia's Securities Commission in the next 15 days for a permit to launch the buyout bid, and will publish the invitation to the remaining shareholders immediately after that.

On Thursday, trading in Hempro generated 21.6 million dinars ($202,500/183,000 euro) in turnover, accounting for more than half of the overall daily turnover of 37.1 million dinars on the Belgrade bourse. The shares changed hands on the open market, jumping 30% to 666 dinars. The 32,424 Hempro shares that were traded in six transactions are equivalent to some 11% of its share capital.

According to data from Serbia's Central Securities Depository and Clearing House, prior to Thursday's trading session Ekstra-Pet controlled 11.9% of Hempro.

Hempro's stocks traded up 12.6% at 750 dinars by 1540 CET on Friday.

(1 euro = 117.957 dinars)

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