SARAJEVO Feb 5 An autonomous region of Bosnia plans to raise around 8.3 million marka ($5.7 million) by selling its 22.12 percent stake in oil retailer Energopetrol , part of its strategy of selling off minority stakes to boost its finances.
The Energy and Industry Ministry of Bosnia's autonomous Bosniak-Croat federation aims to sell 1,215,111 Energopetrol shares at 6.8 Bosnian marka apiece in an auction on the Sarajevo Stock Exchange, the exchange said on its website.
Energopetrol shares were traded last on Monday at 7 marka.
The bourse started accepting orders for the auction on Wednesday. It is due to close on Feb. 12.
Croatian energy firm INA and Hungarian oil and gas company MOL both own 33.5 percent stakes in Energopetrol, with small shareholders owning the remaining approximate 10 percent.
MOL is INA's biggest shareholder with almost 50 percent, while the Croatian government owns close to 45 percent.
The two shareholders have been locked in a long-running dispute over control of INA, and are currently in talks to redefine their partnership. MOL has said it might sell its INA stock if no agreement was reached.