"Građevinar Kocić" announced bid for takeover of company "Novi autoput"

Belgrade-based company "Građevinar Kocić" has announced the bid today (August 25, 2008) for takeover of stocks of building company "Novi autoput" from Belgrade at the price of 220 RSD per stock.

According to daily newspaper "Politika", the bidder intends to take over 100% of the company, that is, 220,468 stocks, and the bid will be opened prior to September 15.

Nominal value of the stocks of company "Novi autoput" is 1,000 RSD per stock, while the average price of stocks in trading over the last three months amounted to 171.93 RSD.

The last market price amounted to 160 RSD.

"Građevinar Kocić" intends to keep "Novi autoput" in the same field of work, as well as to provide conditions for more efficient operations, improve living conditions of the employees and strenghten personnel, while the employment terms will depend on the achieved business results.

"Novi autoput" deals with construction of junctions, airport runways and sports fields.
The company realized business incomes worth 131.7m RSD and expenses worth 138.9m RSD in 2006.