Serbia’s NLB Komercijalna Banka (KMBN) said on Tuesday that it will delist its shares from the Belgrade stock exchange after Slovenia’s Nova Ljubljanska Banka became its sole owner.

The decision to delist followed a squeeze-out of shareholders last month, NLB Komercijalna Banka said in a bourse filing.

Through the squeeze-out process, NLB acquired 1,528,110 regular shares and 316,260 preferred shares in Komercijalna Banka with a total value of 61.7 million euro ($61.23 million).

NLB completed the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka for 394.7 million euro on December 30, 2020, becoming the third-largest banking group in Serbia. In April 2021, NLB lifted its stake in Komercijalna Banka to 88% following the completion of a buyout bid.

Source: SeeNews