The non-binding bids sent within the first phase of the tender for the sale of state-owned shares of Komercijalna Banka were opened at today’s session of the Tendering Commission of the Ministry of Finance of Serbia.

The Tendering Commission determined that four bids had been sent within the deadline defined in the documentation, it is announced on the ministry’s website.

The bids were opened and were determined to be complete, containing the required elements.

The Ministry of Finance will analyze these non-binding bids in the upcoming days with the help of privatization advisers and determine which bidders qualify for the second, binding, phase.

The bids which qualify will be ranked in line with the criteria defined in the documentation and the bidders will be notified of the ranking. These bidders will then be allowed to perform additional and through analysis of the bank’s operations.

The binding bids should be made in mid-November 2019.