Preparation for the public offer of shares of AD "TIGAR" from Pirot
Public offer of shares envisages the sale of new issue of shares of the enterprise, as well as shares from portfolio of the Share Fund, which currently disposes of 55.555 shares, representing 32,33 % from the total number of shares of the enterprise.
It is expected, that the shares shall be offered through the investment bank as the sponsor of the offer, not only to the foreign and domestic professional investors, but also to all legal entities and natural persons in Serbia.
By the signing of this Agreement, started the preparation procedure for the Public offer of shares of Tigar a.d., which envisages the complete analysis of the businesses of the enterprise (due diligence) and the draft of prospectus for placement of shares, on the whole in accordance with the international standards of the capital market.
After successful completion of the preparation stage, the next step is public invitation for the sale of shares and realization of the public offer of shares. According to the plan, the announcement of Public invitation is expected to happen in the last quarter of 2006.
With this is, for the first time, introduced the procedure of the Public offer of shares into the Serbian capital market, i.e. in its real sector, at one of the greatest exporters and the most important business subjects in Serbia.
Through realization of this offer, the enterprise shall raise funds for completion of the planned development projects, and, on the other hand, through the sale of shares from portfolio of the Share Fund, is expected the broadening of the investor basis of the Tigar a.d., which might increase the liquidity of shares of "Tigar", being one of so-called "blue chip" companies on the Belgrade Stock Exchange. At the same time, the successful completion of the first Public offer of shares of the Tigar a.d., shall enable the strengthening of the domestic capital market and opening of our market for the significant number of domestic and foreign investors.