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Bosnia's Bingo launches buyout bid for INIT

Bosnia's Bingo launches buyout bid for INIT Author: Radomir Ralev

SARAJEVO (Bosnia and Herzegovina), June 16 (SeeNews) - Bosnia's largest retailer Bingo said on Thursday it launched a buyout bid for the remaining shares in local Institute for Information Technology, INIT[SAJ:IITSR], it does not already own.

Bingo is offering to pay 449 marka ($238.6/229.6 euro) per share, targeting 2,937 INIT shares, equal to a 16.7992% stake, it said in a filing to the Sarajevo Stock Exchange (SASE).

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The buyout bid is valid for a period of 28 days from the announcement date.

Bingo currently owns 14,546 shares, representing a 83.2008% stake in INIT.

INIT's total share capital is divided into 17,483 shares of 100 marka in par value each.

The takeover target's shares have not traded on SASE in the past year.

(1 euro = 1.95583 marka)

Bingo d.o.o. is among the biggest companies in SEE, for more reference take a look at Top 100 companies
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