July 28 (SeeNews) - Bosnia's largest retailer Bingo said on Thursday it has increased its stake in local Institute for Information Technology, INIT, [SAJ:IITSR] to 84.3906% from 83.2008% following a tender offer.
A total of three shareholders of INIT, holding a stake of 1.1897% among themselves accepted Bingo's buyout offer, the bidder said in a bourse filing.
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In June, Bingo made a tender offer for 2,937 shares it did not already own in INIT, offering to pay 449 marka ($232.4/229.6 euro) per share.
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 the Sarajevo Stock Exchange in the past year.
(1 euro = 1.95583 marka)