Majority package of stocks of "Inox" on auction on June 25

Share Fund will offer 64.19% of stocks of manufacturer of machines "Inox" from Bački Petrovac for sale on the auction on June 25 at starting price of 1.46m RSD.

Deadline for applications expires on June 20th.

Total of 58,507 stocks will be offered for sale, 52,850 of which are owned by the Share Fund and 5,657 stocks are owned by the Development Fund of Serbia.

Erste bank owns 6% of "Inox", while the rest is the property of minor stockholders who have less than 0.4% each.

Starting price of the stock is 25 RSD, which is half the price at previous unsuccessful auction that was scheduled for May. "Inox" owns 91,148 stocks, which were issued on November 5, 2007, but they were not subjects of trading.

Market price on May 7, when the stocks of "Inox" were temporarily withdrawn from the stock exchange, amounted to 300 RSD per stock, while the value of market capitalization was 27.3m RSD.

"Inox" deals with production of machines for food industry and it registered loss in amount of 12.18m RSD in 2006. According to the data provided by the Business Registry Agency, the assets of "Inox" were worth 99.99m RSD.