North Macedonia’s Komercijalna Banka launches takeover bid for Stopanska Banka Bitola

By bne IntelliNews August 27, 2024

North Macedonia's largest bank, Komercijalna banka, announced on August 26 that it has published the takeover bid for local Stopanska banka Bitola.

The offered price is set at MKD3,200 (€52) per share, with a 28-day window for shareholders to accept the offer, running from August 26 to September 22, Komercijalna said in a bourse filing.

The Securities Commission of North Macedonia granted approval to Komercijalna banka on August 22, allowing the bank to make a formal takeover offer for its smaller peer. Earlier in the month, Komercijalna banka also received approval from the central bank to acquire all ordinary shares with voting rights issued by Stopanska banka Bitola.

The takeover bid involves 390,977 ordinary shares with voting rights, which represent the entire share capital of Stopanska banka Bitola. The offer's success is contingent on shareholders holding at least 261,956 ordinary shares, or 67% plus one share of the total voting shares, agreeing to the offer.

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