Wabererʼs postpones planned IPO
The board of Hungarian road haulage company Wabererʼs International said it decided at a meeting on November 10 to postpone the planned initial public offering of the companyʼs shares, citing "the current market conditions" as the reason behind the move.
On October 5 Wabererʼs requested the listing of its shares on the Budapest Stock Exchange, which the BSE has approved. Wabererʼs shares were listed on the BSE from October 6 and the company transformed its form of operation from a private company limited by shares (Zrt.) to a public company limited by shares (Nyrt.), which is a precondition to trading its shares on the Budapest Stock Exchange. In order to meet that requirement, the company had 90 days from the time of listing to apply for the shares to be traded.
Wabererʼs listed 14,654,028 securities with a face value of €0.35 or shares amounting to a total nominal value of €5,128,910 on October 6.
The company has a fleet of more than 3,400 trucks and employs 5,000 people. It has units in France, the UK, Germany, Italy, Poland, Romania and Slovakia. It had first-half revenue of €261 mln, up 8% year-on-year. Q1 EBITDA climbed 15% to €37.6 mln.
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