Bosnian securities registry reveals buyer of Bosnalijek stake

Bosnian securities registry reveals buyer of Bosnalijek stake
By bne IntelliNews October 11, 2016

Malta-registered financial services provider KBC Euro Credit Capital was the buyer of a 19.25% state-owned stake in Bosnian blue-chip drug producer Bosnalijek at an extraordinary auction on the Sarajevo Stock Exchange earlier this month, data from the Bosnian Federation’s securities registry showed on October 11.

On October 6, an unknown investor - now revealed to be KBC Euro Credit Capital - bought the stake previously owned by the Federation’s government for BAM23.38mn (11.95mn), offering the highest price of BAM15.51 per share. 

According to the website of the Federation’s securities registry, the Maltese company is the second-largest stakeholder in Bosnalijek following the deal that has now been completed.

Luxemburg-based firm Haden SA remained the largest single shareholder in Bosnalijek with a 29.95% stake at end-June 2015. The third biggest owner is Tripoli-based Economic and Social Development Fund with 8.78%. Haden first entered Bosnalijek in September 2012 when it bought the 8.37% stake of the World Bank’s IFC.

In 2010, US pharmaceutical company Alvogen wanted to buy the stake and was also interested in acquiring stakes held by other shareholders. However, no agreement was reached as the government decided to postpone the launch of a new tender after new potential buyers from Libya, the UAE, Poland, Germany, Slovenia and Croatia reportedly appeared.

KBC Euro Credit Capital was set up in 2015 and provides a range of financial services, according to the company’s website.

Related Articles

Bosnian Serbs to block work of state-level institutions following genocide case appeal

The parliament of Bosnia & Herzegovina’s Serb-dominated entity, Republika Srpska, voted on February 27 to reject and ... more

Bosnia close to losing IMF deal, minister warns

Bosnia & Herzegovina's deal with the International Monetary Fund (IMF) could be cancelled if the two parties do not reach an agreement on planned reforms by the end of March, the finance minister ... more

Serbian PM proposes Western Balkan customs union

Serbia’s Prime Minister Aleksandar Vucic proposed creating a Western Balkan customs union during his meeting with Austria’s Federal Chancellor Christian Kern on February 17, the government ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss