The deadline for the submission of non-binding bids has been extended from 23 August to 6 September 2019.

The Government of the Republic of Serbia has announced that the deadline for the submission of non-binding bids for the purchase of the state’s stake in Komercijalna Bank has been extended from 23 August to 6 September 2019. The reason for the mentioned postponement is that certain potential purchasers need more time to examine the documentation of the bank’s operations.

As a reminder, the Government of the Republic of Serbia opened the public invitation on 31 May, while Serbia’s officials expect that the procedure of the sale is to be completed by the end of 2019. At the moment Government of Serbia holds a 50.6% stake in Komercijalna Banka after it purchased shares back from DEG and Swedfund.

Note that at the current share price, Komercijalna banka is traded at P/B 0.76 of and P/E 12.71