Shares in Montenegro’s Poliex resumed trading on 29 October after almost seven weeks of suspension, following a takeover offer that left Podgorica-based Kerber Group with 90.05% of the company. The Capital Market Commission of Montenegro ordered the temporary suspension to end, reopening Poliex shares to buyers and sellers on the Montenegro Stock Exchange.
Trading had been halted since 11 September under a Commission ruling issued a day earlier because of the public takeover offer launched by Kerber. Poliex is a chemical industry producer in Berane that makes commercial and military explosives, initiating devices and other products for industry and the defence sector.
Before the offer, Kerber controlled approximately 82.86% of Poliex. In September it offered to buy the remaining 17.14%, covering 66,814 shares at 3.34 euros each, for a potential transaction value of about 223,000 euros.
The Commission ruled on 6 October that the takeover offer had concluded, allowing related transactions and payments to shareholders to proceed. Central Securities Depository and Clearing Company data show that 28,041 Poliex shares were transferred to Kerber on 7 October, with payment made to shareholders who accepted the offer. The package was worth approximately 93,657 euros at the offer price.
After the offer closed, Kerber held 350,978 voting shares, or 90.05% of Poliex’s total shares. Minority shareholders could also offer their shares to Kerber at 3.34 euros each during an additional period from 12 to 26 October. The available figures do not specify how many shares were acquired in that period.
Poliex recorded net profit of approximately 15.3 million euros in 2025, compared with 4.3 million euros in 2024. Its business revenue reached around 30.2 million euros in 2025, substantially higher than in 2024.
The company has announced activities to expand production capacity, including projects linked to making components for unmanned aerial vehicles. Poliex’s last recorded share price before the suspension was 2.70 euros, while Kerber’s offer price of 3.34 euros was approximately 23.7% higher.
