The starting price for buying 80.32 per cent of shares in the Rijeka-based daily Novi List is HRK 86 million, according to an invitation to bid published by the Interkapital Vrijednosni Papiri investment company on behalf of Zagrebacka Banka as the encumbrancer.
The bank has activated its lien as the creditor of Dioki, to reclaim the money it is owed by this petrochemical company, which has a 80.32 per cent stake in the newspaper.
The invitation to bid says that 48,191 shares are on sale - 18,190 owned by Dioki and 30,001 by Rijecki List.
Domestic and foreign natural or legal persons can bid and the purchase will be made under the "all or nothing" principle, which means that only the entire package of 48,191 shares is on sale.
Bids can be submitted by November 21. Every bidder must make a deposit in the amount of 10 per cent of the starting price. Bids will be opened the next day.
The tender has been published in newspapers and on www.intercapital.hr.
The Novi List daily was bought by Dioki in May 2008. According to a financial report, the Dioki Group reported HRK 226.7 million in losses in the first nine months of 2011, up from the HRK 141.2 million reported at the same time last year.
