Serbia's Termika Beograd to buy back up to 4.66% of own shares

The company is offering 3,100 dinars ($28.3/26.5 euro) per share, it said in a filing with Serbia's central securities depository and clearing house last week.

The buyback bid is open until May 7, the statement reads.

Termika Beograd's total equity is divided into 60,924 shares of 1,120 dinars in nominal value each.

Its shares closed up 10.32% at 3,100 dinars on the Belgrade bourse on April 23, the first day of its share buyback offer. Previously, they last traded on January 23, closing down 3.1% at 2,810 dinars

Its largest single shareholder is hidden behind a custodian account at local financial firm BDD M&V Investments and holds a 6.2% stake. It is followed by Termika Beograd itself with 5.3% and Slovenian firm Stanfin with 3.5%, while the remainder belongs to smaller shareholders.

The company specialises in producing and installing thermal insulation for both domestic and foreign markets. It has completed projects involving hot and cold insulation at thermal power plants in Serbia, Bosnia and Herzegovina, and Montenegro. Additionally, the company has provided insulation solutions for chemical production units and oil industry plants, including local fertilizer maker Azotara, petrochemicals producer HIP Petrohemija, and the Belgrade and Pancevo oil refineries of Serbian oil and gas group NIS.

(1 euro = 117.172 dinars)