Majority package of stocks of "Inox" on auction on May 29

Share Fund will offer 64.19% of stocks of manufacturer of machines "Inox" from Bački Petrovac on the Belgrade Stock Exchange on May 29 at starting price of 2.93m RSD.

The deadline for submission of applications for auction expires on May 26.

Total of 58,507 stocks will be offered for sale, 52,850 of which are owned by the Share Fund and 5,657 are owned by the Development Fund of Serbia. Erste bank owns 6.2% of stocks in "Inox", while the minor stockholders own less than 0.4% each.

Starting price of the stock is 50 RSD. "Inox" has 91,148 stocks that were issued on the market on November 5, 2007, but no trading has occurred ever since.

The market price on May 7, when the stocks of "Inox" were temporarily withdrawn from the stock exchange, amounted to 300 RSD per stock, and market capitalization amounted to 27.3m RSD.

"Inox" deals with production of food processing machines and it registered loss in amount of 12.18m RSD in 2006. According to the data provided by the Business Registry Agency, the assets of "Inox" are worth 99.99m RSD.