You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Serbia's Beobanka sells entire 6.6% stake in Jubmes Banka

Author Radomir Ralev
Serbia's Beobanka sells entire 6.6% stake in Jubmes Banka Source: Jubmes banka

BELGRADE (Serbia), May 13 (SeeNews) - Serbia's insolvent lender Beobanka has disposed of its 6.6% stake in the capital of sector player Jubmes Banka [BEL:JMBN], the latter said on Monday. 

Beobanka sold 19,092 shares of Jubmes Banka on May 9, Jubmes said in a statement without revealing further details.

On Friday, Serbia's government sold its entire 28.51% stake in Jubmes Banka to local financial firm Alta Pay Group for 5.0 million euro ($5.6 million), as part of a broader reform of the country's financial system.

The deal was executed as a block transaction worth 592.6 million dinars on the Belgrade Stock Exchange on Thursday. A total of 82,225 Jubmes Banka shares changed hands at 7,207 dinars ($68.6/61.1 euro) apiece.

Beobanka has been in liquidation since 2002 and most of its assets have been sold to repay its liabilities to creditors.

($ = 0.888984 euro)