August 28 (SeeNews) - Turkey's Halkbank has said it plans to launch a takeover bid for the remaining 13.24% stake in its Serbian subsidiary which it does not already control.
Halkbank intends to launch a takeover bid for the 24,102 ordinary shares it does not already own in Halkbank Beograd [BEL:CCNB], the Turkish lender said in a filing with the Belgrade Stock Exchange on Friday.
You can subscribe to our M&A newsletter here
The Turkish bank currently owns a 86.76% stake, or 157,880 shares, in the capital of Halkbank Beograd.
Halkbank has 15 days to apply for approval for the launch of the takeover bid with the Serbian Securities Commission, the lender added.
Halkbank Beograd's share price rose 9.31% to 10,931 dinars as on Friday on the Belgrade Stock Exchange, bourse data showed. The shares did not trade on Monday.
(1 euro = 119.142 dinars)
Halkbank AD is among the biggest banks in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here