The bid values Rudnik Nemetala's capital distributed in 7,520 shares at 80.2 million dinars.
Kaolin seeks to acquire at least 96.0106% of Rudnik Nemetala's share capital, or 7,220 shares. Shares in Rudnik Nemetala Valjevo have par value of 3,000 dinars each. They last traded at 1,100 dinars on December 12 on the Belgrade Stock Exchange.
Shareholders face a January 28 deadline to respond to Kaolin's offer.