AS "AB CITY" made a mandatory bid to acquire 69.2% stake in AS Olainfarm (RISE:OLF1R) for ?90.2 million on June 30, 2021. Under the terms of transaction, price per share is set at ?9.26 per share. On July 14, 2021, Financial and Capital Market Commission (FCMC) has given permission to AB City to make a mandatory takeover bid for Olainfarm pharmaceutical company's shares. Takeover bid will last for 30 (thirty) calendar days, starting on the next working day when information on the takeover bid is published. As on July 19, 2021, AS "AB CITY" begin the mandatory share repurchase offer process. As of August 9, 2021, Repharm Group's parent company AB City has been suspended, but the Financial and Capital Market Commission (FCMC) has asked an administrative court to let AB City continue and complete the buyout procedure. The offer will end on August 17, 2021. As of August 17, 2021, AB CITY acquired 48.08% stake in Olainfarm. On August 19, 2021, AB CITY will give the shareholders five more days to sell their shares in Olainfarm at the same price of ?9.26 per share. FCMC informed the parties that an administrative regional court on August 24, 2021 will hear a request by Olainfarm's minority shareholders, Agris Auce and Marcis Jurdzis, to suspend the buyout of Olainfarm shares and has given permission to AB City to make a mandatory takeover bid for the remaining shares of Olainfarm. As of August 24, 2021, the Administrative Regional Court completely terminated the proceedings the proceedings, finding that Agris Auce and Marcis Jurdzis had no grounds to bring such a claim to court.