February 27 (SeeNews) - North Macedonia's heating utility Toplifikacija Skopje, which is in bankruptcy proceedings, sold a 99.98% stake in the local heating supplier Skopje Sever at a discounted price of 21.5 million denars ($378,607/348,802 euro) on the Macedonian Stock Exchange (MSE), following two previous unsuccessful attempts, bourse data showed.
A total of 77,414 shares in Skopje Sever were sold at a price of 278 denars apiece at an auction on February 26, bourse data showed on Monday.
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The auction was held under the all-or-nothing principle.
Toplifikacija failed to sell the majority stake in Skopje Sever at two public auction held on the MSE in 2022 and 2023. In the first auction, the shares were offered at a price of 780 denars each, while in the second, they were offered at 482 denars per share.
(1 euro = 61.64 denars)