American carmaker Ford to pay lei 10.92m for 3.27 percent of the share capital of Automobile Craiova
U.S. car producer Ford will make a public offer to purchase the Automobile Craiova (AUCS) plant and to unlist it from the capital market, offering its minority shareholders 10.92 million lei, the capital market watchdog having approved the operation.
Ford plans to buy 619,000 shares at a price of 17.65 lei per share, 9 percent more than the price come upon at the closing bell of yesterday's stock market session.
The offer will stretch from July 22 to August 11 and will be intermediated by the brokerage house EFG Eurobank Securities.
The company holds 96.73 percent of the plant's share capital, after the investment fund SIF Oltenia (SIF5) sold in April the 22.56 percent it controlled for 75 million lei.
Automobile Craiova counts on a share capital of 39.78 million lei, divided among 18.94 million shares at a face value of 2.10 lei.
Shares of Automobile Craiova are traded on the Rasdaq over-the-counter market, the XMBS section, under the symbol AUCS. The company has a capitalization of 306.9 million lei, according to the 16.20 lei quota settled during yesterday's session.