State expects larger number of bidders for "Putnik"

Cypriot company "Aciona" could become the owner of “Putnik” on Monday (April 2, 2007), because the deadline for State to sell them 519,032 stocks expires on that day at noon.

That is the minimum of 70% of ownership that this Cypriot Fund must buy at the offered price of 3,600 RSD per piece, in order to have successful bid for takeover.

The remaining 15% or 111,229 stocks are in the hands of minor owners who can also sell them to "Aciona". The same amount of stocks is owned by the Privatization Registry.

However, in case other interested companies appear, and the deadline for that expires tomorrow, the entire procedure can be prolonged until May. People from the Ministry of Economy say that the definite decision about selling “Putnik” to Cypriots has not been made yet and they also remind that there is still possibility that the new bidders appear, which would lead to the increase in price of stocks.