Federation of BiH to auction stake in Sarajevo tobacco factory on Sept 1 0 By BiznisInfo on 04/08/2016 News in English Federation of BiH will sell 39.9 percent stake in tobacco factory Fabrika Duhana Sarajevo on Sept 1, hoping to raise 42.7 million Bosnian marka ($24.4 million) and help plug a budget gap. The sale is part of the government's plan to sell stakes in a number of companies this year to raise money to plug a hole in its budget. The auction of 511.477 shares will be carried out via the Sarajevo Stock Exchange (SASE) at a price of 83.50 marka per share, the SASE said in a statement on Thursday. The government kicked off its privatisation programme in June with the sale of a minority stake in the top insurer Sarajevo Osiguranje but failed to attract any bidders. A sale of its 19 percent stake in generic drugmaker Bosnalijek last month was also unsuccessful. The government has said it would try again to sell stakes in the two companies, as well as its stakes in aluminium smelter Aluminij Mostar and engineering firm Energoinvest. FDS’ shares traded at 54.33 marka on Thursday, 1.42 down from Wednesday's close. The company has a market capitalisation of 69.6 million marka. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on WhatsApp (Opens in new window) Related Fabrika duhana Sarajevo Privatisation
