"Sojaprotein" bought additional 7.8% of stocks of Veterinarian Institute Subotica

Bečej-based company "Sojaprotein" has bought additional 7.8% of stocks of Subotica-based Veterinarian Institute at the price of 600 RSD per stock. Before the acquisition, that company had 51.3% of stocks of that Institute in its possession. Now the ownership share of the company amounts to over 59%.

Earlier this year "Sojaprotein" increased its share in Veterinarian Institute through public additional capitalization, at the price of 500 RSD per stock, which made it legally obliged to give the offer to all minor stockholders.

According to the announced business plan, Veterinarian Institute expects the incomes of about 1 billion RSD in the second half of the year, while the profit should amount to 65.8m RSD.

During the first six months, this company registered business incomes worth 1.1 billion RSD (80m RSD more than planned) and the profit of 60.2m RSD. The current price of the stocks of the Institute on the Stock Exchange is 600 RSD, while the value of the market capitalization of the company amounts to 1.36 billion RSD (14.5m EUR).

Veterinarian Institute realized two large investments this summer - fish food production line was opened in Subotica, while the unit for production of solid hemopharmaceutical products was put in operation in Srpska Crnja. Total value of these investments amounted to 7m EUR.

The Institute also invested 1.5m EUR in 2009 in connection of the whole production system to the gas network, which should contribute to improvement of environmental standards, as well as additional improvement of the quality of fish food, fodder and pet food.