September 12 (SeeNews) - The securities commission of Bosnia and Herzegovina's Serb Republic cleared a planned buyout bid for property management company Dubicki Robni Magazin [BANJ:DBRM-L2] by its largest shareholder, Nebojsa Antonijevic, the company said.
The bidder has to launch the takeover offer within seven days after the approval, Dubicki Robni Magazin said in a filing to the Banja Luka Stock Exchange (BLSE) on Friday.
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Antonijevic intends to offer 0.50 marka ($0.26/0.26 euro) per share in the buyout bid.
Dubicki Robni Magazin's share capital of 1.8 million marka is divided into 1,834,061 shares of 1 marka in par value each. Antonijevic currently holds 755,449 shares, representing a 41.18996% stake in the company.
Dubicki Robni Magazin's shares last traded on the BLSE on August 29, closing flat at 0.50 marka.
The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)