December 19 (SeeNews) - Bosnia and Herzegovina's Serb Republic launched the sale of minority stakes in 59 companies worth an estimated 9.2 million marka ($5 million/4.7 million euro) combined, the entity's Investment-Development Bank (IRBRS) said.
The entity's government is selling the stakes via its pension reserve fund and state-run IRBRS on the Banja Luka Stock Exchange under the all-or-nothing principle, IRBRS said in a bourse filing on Friday.
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The most expensive stake on sale is a 14.9% shareholding in metal construction company Alpro, worth an estimated 897,466 marka.
The sale, which will begin on December 19, will last until the stakes are sold out, but no later than December 30.
The Serb Republic is one of two entities that make up Bosnia and Herzegovina. The other entity is the Federation.
(1 euro = 1.95583 marka)