Oct 13, 2005. /Lesprom Network/. Croatian cardboard producer Belisce launched on October 11, 2005 a bid for purchasing at least 51% in Serbian paper recycling company Inos-Papir Servis. Belisce offered 20,100 Serbian dinars ($282.4/Euro 235.8) per share, against a book value per share of 14,388 dinars ($202.1/Euro 168.8). The nominal value of Inos-Papir Servis shares is 8,200 dinars ($115.2/Euro 96.2) each. Belisce pledged to invest Euro 400,000 ($479,000) in the first year after the acquisition of Inos-Papir Servis, and Euro 250,000 ($299,400) in each of the next two years. The shareholders of Inos-Papir Servis will decide whether to accept the Belisce offer until November 5, 2005. Belisce is the parent company of the group Belisce which consists of Slovenian cardboard maker Valkarton, Macedonian paper and packaging producer Komuna, local recycling company Unijapapir, electrical equipment producer Tvornica Elekro Opreme, and wood processing company Tvornica za Preradu Drva.