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N. Macedonia's Sparkasse Bank to offer own shares for sale

N. Macedonia's Sparkasse Bank to offer own shares for sale Photo: EBRD / All rights reserved.

SKOPJE (N. Macedonia), June 14 (SeeNews) - Sparkasse Bank AD Skopje, the North Macedonian unit of Austria's Steiermarkische Bank und Sparkassen, said on Tuesday it will offer for sale 1,588 of its own shares representing 0.1% interest, for a total of 4.66 million denars ($79,100/75,800 euro).

The bank will offer the shares at a price of 2,938 denars apiece at a public auction on the Macedonian Stock Exchange (MSE), giving priority to orders with lower volume and earlier time of entering in the trading system, it said in a filing with the MSE.

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The subscription period will start on June 28 and end on June 30. The public offering will be considered successful if at least 60% of the offered stock is subscribed for.

Sparkasse Bank is selling the shares it has purchased during the merger with Ohridska Banka to comply with local banking regulations, it said. The lenders merged last year after Steiermarkische Bank und Sparkassen acquired a 91.5733% stake in Ohridska Banka for 48 million euro in 2019.

Sparkasse Bank's total share capital of 4.478 billion denars is divided into 1,677,443 shares of 2,670 denars in par value each.

(1 euro - 61.48 denars)

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