The securities commission of Bosnia and Herzegovina's Serb Republic cleared a planned buyout offer for local MF Banka a.d. Banja Luka by its majority shareholder, financial group MF Grupa d.o.o., MF Banka said. The bidder has to launch the buyout offer within seven days after the date of approval, MF Banka said in a filing to the Banja Luka Stock Exchange (BLSE). MF Grupa intends to offer BAM 193.27 ($105.7 /EUR 98.8) per each MF Banka share in the buyout bid.

MF Grupa currently owns a 94.87% stake in MF Banka. The lender's shares have not traded on the Banja Luka bourse in the past year.