State to get EUR 5 million from shares of Jubmes Bank

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Serbia no longer has a stake in Jubmes Bank, because it has sold its 28.51% stake on the stock exchange to the Alta Pay Group for RSD 592.59 million, i.e. EUR 5 million. “From now on, the Republic of Serbia officially no longer has a stake in Jubmes Bank, since a block transaction was realized on the Belgrade Stock Exchange, based on which the ownership of the bank’s shares of the Republic was transferred to the buyer,” said the Ministry of Finance. As it is stated, two bids were submitted at the tender for the sale of Jubmes Bank, one of which, the one submitted by the Alta Pay Group, met all the requirements.

The Ministry specifies that the bid implied the offered price of RSD 7,207 per share for RSD 82,225 ordinary shares (a package of 28.51% of capital), which totals RSD 592,595,575, i.e. EUR 5,023,754.71 based on the middle exchange rate of the National Bank of Serbia on the day of the submission of bids. The Bank’s share capital offered for sale consists of ordinary shares owned by the Republic of Serbia and the shares of the banks undergoing receivership in which the Deposit Insurance Agency is a receiver. The total assets of Jubmes Bank amount to about EUR 120 million, and their share in the assets of the total banking sector of Serbia, according to the data of the National Bank of Serbia, amounts to 0.42%. The Bank has two subsidiaries.

Source: Politika

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