Minority Stake in Arms Maker Will Be Offered in Auction This Week

A closed-end investment fund, ZIF Bonus, has scheduled an extraordinary auction for the 23.3% stake it holds in the majority government-owned arms maker Igman Konjic on July 7 on the Sarajevo stock exchange. The fund is hoping to raise a total of 35.8 million marks for the 134,815 shares it owns, each of which is valued at 265.53 marks.

The government owns a 51% stake in Igman, as the rest is in the hands of investment funds and individual shareholders.

Arms makers in the Federation entity sell their products in 54 countries, including the U.S., Germany, France, Turkey, Bulgaria, Romania, Montenegro, Croatia and Macedonia.

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