September 25 (SeeNews) - Serbian company UTP Trgovina has increased its stake in the capital of electrical equipment wholesaler Jugoelektro [BEL:JGELM] to 88.3% from 66.4%, Jugoelektro has said.
UTP Trgovina acquired 13,989 shares ordinary shares of Jugoelektro through a buyout bid on the Belgrade Stock Exchange, Jugoelektro said in a bourse filing on Monday.
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The shares were acquired at a price of 2,977 dinars ($29.6/25.2 euro) apiece, Jugoelektro said.
UTP Trgovina launched the buyout bid on September 3, targeting to purchase the 21,459 shares in Jugoelektro it does not own.
The capital of Jugoelektro is composed of a total of 63,791 shares.
(1 euro = 118.292 dinars)