Delta Real Estate Miroslav Mišković announced on Tuesday that they plan to launch a bid to acquire all the shares they do not currently own in their subsidiary Standard Nekretnine d.d. Sarajevo.

Delta Real Estate currently holds 806,148 shares, representing a 95.03% stake in Standard Nekretnine, so their offer will target the remaining 42,126 shares of the company, according to a filing with the Sarajevo Stock Exchange. The basic capital of Standard Nekretnine amounts to 18.2 million BAM, divided into 848,274 shares with a nominal value of 21.4 BAM each.

In April, Delta Real Estate acquired a 95% stake in Standard Nekretnine d.d. Sarajevo after a capital increase worth 10 million BAM by issuing new shares in a private placement. Prior to this share issuance, Standard Nekretnine was 88.9% owned by Mišković’s company.

Standard Nekretnine owns real estate in the Stup neighborhood of Sarajevo worth around 10 million BAM. This location was previously planned for the construction of the Delta Planet Sarajevo project.

Among the remaining shareholders, Raiffeisen BANK d.d. Bosnia and Herzegovina (custodian) holds 0.2751%, MEGAMIX d.o.o. Sarajevo holds 0.1179%, Senad Misimović (owner of Megamix) holds 0.0836%, etc. The company has a total of 345 shareholders.

The project is planned on a 118,000 square meter area with 120 commercial spaces and over 1,200 parking spaces. Mišković previously announced the start of the construction of a shopping mall, but it has not yet come to fruition.

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