December 7 (SeeNews) - Turkish explosives producer Kirlioglu Kimya Sanayi Ve Ticaret Anonim Sirketi said on Wednesday it intends to launch a buyout bid for the shares it does not already own in Bosnia's detonators manufacturer Pobjeda Rudet Gorazde [SAJ:PRDGRK3], about a year after its last buyout attempt was rejected by the Securities Commission of the Federation.
The Turkish company, which already owns 99.6784% of Pobjeda Rudet's shares, intends to launch a buyout bid for the remaining 0.3216% stake in the Bosnian company, it said in a bourse filing.
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The company did not say when the buyout bid will be launched.
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 traded flat at 196 marka ($105.5/100.2 euro) by 1400 CET on the Sarajevo bourse on Wednesday.
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)