January 25 (SeeNews) - Serbian agro-industrial conglomerate Victoria Group plans to launch a buyout bid for the 31.82% stake it does not own yet in blue-chip soybean processing company Sojaprotein [BEL:SJPT], the soybean company said on Friday.
Victoria Group intends to launch a takeover bid for 4,389,459 shares in Sojaprotein, the company said in a filing with the Belgrade Stock Exchange.
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Currently, Victoria Group controls a 68.18% stake, or 9,403,674 shares, in the capital of Sojaprotein.
In July, Sojaprotein said its shareholders have approved a 3.792 billion dinars ($37.4 million/32.1 million euro) capital reduction to cover part of the loss recorded in 2017. Sojaprotein said in May its net loss widened to 6.5 billion dinars in 2017 from 383 million dinars in the previous year.
The soybean processing company is one of 11 members of the BELEX15 blue-chip index of the Belgrade bourse. It has 13,793,133 listed shares, with a free float factor (FFc) of 20.41%, which account for 1.21% of the total capitalisation of the index.
Sojaprotein's share price rose 27.66% to 180 dinars on Thursday, according to the latest trading data available from the Belgrade Stock Exchange.
(1 euro = 118.464 dinars)