SARAJEVO Oct 6 Bosnia's autonomous
Bosniak-Croat Federation sold its 19.2 percent stake in generic
drugmaker Bosnalijek on Thursday for a higher than
expected 23.4 million Bosnian marka ($13.4 million) after
several previous attempts to sell failed.
The stake was bought by a single buyer, although the
Sarajevo Stock Exchange (SASE), which organised the auction,
could not say who the winning bidder was.
A broker said there were two bidders for the stake.
The sale of the Bosnalijek stake is part of a government
privatisation plan for 2016 aimed at raising funds to plug a
The Federation government cut the price of Bosnalijek shares
to 14.74 marka per share from 15.51 marka in July, when its
offer failed to attract bids.
But due to the strong demand on Thursday, it sold the shares
at the original price of 15.51 marka, a SASE spokeswoman told
Reuters, adding that the total raised was 23.4 million marka.
A Luxembourg-based company, Haden S.A., is the biggest
shareholder in Bosnalijek, owning nearly 30 percent of shares.
The rest are held by investment funds and small shareholders.
Bosnalijek shares traded at 11.84 marka on Thursday, up 1.76
percent from Wednesday's close. The company has a market
capitalisation of 91.4 million marka.
The Federation government first tried to sell its stake in
Bosnalijek in 2010 but failed to find a buyer.
The government has said it also plans to sell its stakes in
aluminium smelter Aluminij Mostar and engineering firm
Energoinvest this year.
It will try again to sell its stake in insurer Sarajevo
Osiguranje after lowering the price to 10.39 marka per share
from 12.99 marka at the last auction in June.
Last month, the government sold its 39.9 percent stake in
Bosnian holding firm Fabrika Duhana Sarajevo to
British American Tobacco via the CID Adriatic
Investments fund for 42.7 million Bosnian marka.
($1 = 1.744 Bosnian marka)
(Reporting by Maja Zuvela; Editing by Daria Sito-Sucic and