Additionally, the bank is issuing new ordinary shares, which will be available for subscription by retail investors from Nov. 26 to Dec. 11, 2024, through its mobile app or video banking platform.
Éva Hegedüs, Gránit Bank’s chair and CEO, noted “Gránit Bank’s competitive advantage lies in combining the values of traditional banks with those of fintech providers. The bank’s accomplishments over the past 15 years have laid the foundation for its stock market debut. The business strategy for the next 10 years was recently approved by the bank’s general assembly, validating the successful operational model so far. By going public, we aim to enable as many people as possible to benefit from shareholder value growth.”
The minimum total issuance amount is set at HUF 7 billion, with the bank’s board authorized to accept oversubscriptions of up to HUF 23 bln.
Retail investors can subscribe to the newly issued shares through multiple channels, including Gránit Bank’s mobile app, video banking platform, or at its two Budapest branches. Shares can also be subscribed in person or by mail via MBH Investment Bank, MBH Bank’s 40 designated branches, and Equilor Investment Ltd. Institutional investors can submit book-building auction bids at Gránit Bank and Equilor Investment Ltd.
The transition to a public company and stock exchange listing does not bring changes to the bank’s business model or management. Gránit Bank’s services will continue to be offered in their current form.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
