On August 20, the Macedonian Stock Exchange (MSE) held a public auction for a significant minority stake in Tikveš Winery, North Macedonia’s largest and most renowned wine producer.
A package of 10,646 shares, representing 3.94% of the company’s total share capital, was offered for sale.
The shares were priced at 10,596 denars (USD 201 / EUR 172.1) per share, with the auction conducted under the all-or-nothing principle, requiring bidders to acquire the full package. The transaction was organized through Eurohaus broker, though the identity of the seller was not disclosed.
Tikveš’ share capital consists of 270,450 shares, each with a nominal par value of EUR 51.13 (USD 59.7). By comparison, the company’s shares [MSE:TKVS] last traded on August 13 at an average of 6,014 denars per share—well below the auction offering. The premium valuation reflects the company’s strong market standing and long-term growth potential.
A Winery of Scale and Tradition
Tikveš is not only the leading winery in North Macedonia but also a regional powerhouse in Southeastern Europe. With an annual turnover of EUR 43.7 million, a vinification capacity of 32 million liters, and ownership of 1,300 hectares of vineyards (alongside another 5,000 hectares under contract), the company is among the largest wine producers in the Balkans. Each year, Tikveš sells around 15.3 million bottles worldwide and has invested over EUR 42 million in modernization and expansion.
The winemaking tradition in Macedonia and particularly the Tikveš region stretches back for centuries. Since the time of the Roman Empire, Macedonia has been praised for its powerful wines, described as carrying the “scent of the vibrant south and the taste of songs and laughter of its people.” Generations of skilled winegrowers have shaped this legacy, with the Tikveš region at the heart of Macedonian viticulture.
Founded in 1885, Tikveš Winery stands as a symbol of tradition, innovation, and excellence. In 2025, the winery proudly celebrates its 140th anniversary, marking more than a century of bringing Macedonian wines to the global stage.
Market Significance
While the outcome of the August 20 auction has not yet been disclosed, the event underscores growing investor interest in the wine industry of the Western Balkans. Tikveš’ global recognition, large-scale operations, and upcoming 140th anniversary all contribute to its positioning as a strong player in international markets—making its shares attractive even at a premium.
Source: SeeNews