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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Green loans in North Macedonia's banking sector up 14.9% y/y in 2Q24

The growth of green loans in North Macedonia’s commercial banks continued in the second quarter of 2024, with an annual increase of 14.9% or by MKD2.6bn (€42.3mn), the central bank said on August ... more

North Macedonia’s Komercijalna Banka's 1H24 net profit jumps 42% y/y

North Macedonia’s largest bank, Komercijalna Banka, said on July 31 that its unconsolidated net profit in the first half of 2024 jumped by an annual 42% to MKD2.84bn (€46.2mn). Net ... more

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

Follow Us On

Most Read

  1. French graffiti artist jailed for three years for defacing Baku metro
    5 days ago
  2. Iran-Russia tensions rise over Armenian corridor
    8 days ago
  3. Central Asia is a big winner from the Ukraine war
    4 days ago
  4. Hungary acted as front for China in extending €500mn loan to North Macedonia
    3 days ago
  5. Jihadists “in full swing” preparing “new September 11”, warns Afghanistan expert
    3 days ago
  1. Possible record heat index of 82.2°C reported in southern Iran
    18 days ago
  2. Russia’s new war middle class
    24 days ago
  3. Have lab-grown diamonds changed the diamond industry forever?
    19 days ago
  4. Russia overtakes Japan to become the fourth largest economy in the world in PPP terms
    3 months ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    5 months ago

Reports

Dismiss