January 13 (SeeNews) - Turkish explosives producer Kirlioglu said on Friday it has launched a buyout bid for the shares it does not already own in Bosnia's detonators manufacturer Pobjeda Rudet [SAJ:PRDGRK3], about a year after its last buyout attempt was rejected by the Securities Commission of the Federation.
Kirlioglu is offering 196 marka ($108.6/100.2 euro) per each Pobjeda Rudet share in the buyout offer, targeting 0.3216% stake in the Bosnian company, it said in a filing with the Sarajevo Stock Exchange (BLSE).
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The Turkish company owns 99.6784% of Pobjeda Rudet.
The offer is active for 28 days starting the announcement date.
In December 2021, the Federation's Securities Commission said it rejected a request by Kirlioglu to launch a buyout bid for the remaining stake in Pobjeda Rudet Gorazde, without providing details.
Pobjeda Rudet manufactures electric detonators and detonating cords, among other products.
Pobjeda Rudet's shares last traded on the Sarajevo bourse on December 7, closing flat at 196 marka.
The Federation is one of two autonomous entities that form Bosnia and Herzegovina. The Serb Republic is the other entity.
(1 euro = 1.95583 marka)