Norbi to use Agassi as brand ambassador

Museums

Norbi Update Lowcarb, a Hungarian company that runs a lifestyle and nutrition franchise system, plans to spend €2 mln in capital it raises in an initial public offering on marketing, said owner Norbert Schobert at a press conference yesterday.

Norbi Update Lowcarb is set to use a big part of the capital to contract the tennis champion Andre Agassi as the face of the company's brand in Europe, Schobert said. The company also wants to expand its franchise network in a further seven countries, he added.

At present, the company has altogether 112 shops in three countries. Norbi Update Lowcarb's IPO is slated for September 8-26. The company plans to sell at most 2.2 mln shares at an initial price of HUF 990 apiece. The shares, which will be listed on the Budapest Stock Exchange, account for 34-35% of registered capital.

There is an in-depth article on the listing in the latest edition of the BBJ.

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