State sells stake in Energoprojekt, opens door to forced buyout

The majority owner of Energoprojekt Holding (ENHL), after the takeover bid, crossed the 90% ownership threshold, thus ensuring the conditions for a forced buyout of shares from the remaining shareholders, Momentum Securities announced.

Napred Razvoj took over 3.7 million shares, or 34.6% of the total number of shares, through a public offer, which indicates that the state, as the owner of a third of the shares, agreed to sell its shares at the offer price of 452.3 dinars.

After the offer is completed, Napred Razvoj owns 90.2% of the shares, which allows it to carry out a forced buyout of shares at the aforementioned price of 452.3 dinars after the decision of the assembly.

In this way, the once largest domestic construction company will be forced out of the Belgrade Stock Exchange at a price corresponding to the company’s market capitalization of 4.9 billion dinars (EUR 41.8 million).

In the past business year, Energoprojekt recorded consolidated revenue of almost 10 billion dinars and net profit of 1.3 billion dinars.

Energoprojekt Holding a.d. Beograd

Napred razvoj a.d. Beograd

Energoprojekt holding

Napred razvoj

sale of Energoprojekt

Energoprojekt New Belgrade