Bambi Banat acquires its own shares for the sixth time in 2011

One of the largest biscuit, sweet and salty product producers, Bambi Banat, has announced it will repurchase its own shares as Treasury stocks in pro-rata form starting from December 26th till January 24th, which will be its sixth acquisition of its own shares over the last 12 months.

The company is going to acquire 750 shares (0.2%) at the price of RSD 20,500 a piece. The last five times, stocks have been bought at RSD 20,000 and RSD 20,500. So far, the company holds 3.05% of all outstanding shares or 10,971 Treasury stocks.

Bambi-Banat is Pozarevac-based company managed by Salford, an investment company that released a statement last year claiming it would sell the controlling stake of 69.58% in Bambi-Banat to a strategic partner by the end of 2012.

Last year, Bambi generated operating revenues worth RSD 7.5bn and the net income of RSD 556m. At the latest price of RSD 19,990 per share, the company’s market cap value is RSD 7.65bn (EUR 74.1 million).