Agency announced new deadline for bids for "Ikarbus" - deadline extended prior to February 22

Privatization Agency has announced that the deadline for delivery of obligatory bids for procurement of 39.2% of stocks of "Ikarbus" has been extended prior to February 22nd. The previous deadline for delivery of bids was February 8th.

Total of 29.23% of stocks (111,499 stocks) owned by the Share Fund and 10% (38,125 stocks) owned by the Pension and Disability Insurance Fund are offered for sale at nominal value of 600 RSD per stock.

The right to participate have all interested buyers who deal with production of vehicles or bodies for motor vehicles for at least three years and who had business income of minimum 30m EUR in 2006.

The bidders will be obliged to buy all state-owned stocks because, after the sales contract is signed, the Share Fund will invite all other stockholders who own 60.7% of stocks to join their securities with the stocks owned by the state through these two funds.

The structure of capital in the company is such that the second largest stockholder "Delta Generali” owns 4.7%, company "Si kapital group" owns 3.5% of stocks, company "Koving" has 2% of stocks, "Privredna banka Zagreb" – 1.7% and "UniCredit bank" owns 1.4% of stocks of “Ikarbus”.

Current price of one stock of "Ikarbus" on the Belgrade Stock Exchange is 6,896 RSD.

"Ikarbus" is a stock company with 720 employees and it is the leader in production of buses in southeast Europe.

It produces city, intercity and tourist buses. Its capacity is 1,000 vehicles per year. So far, this factory produced more than 20,000 buses.

"Ikarbus" plans to produce 600 vehicles in 2008.