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Genex to float in 2007 instead of this year

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Genex Zrt, a Hungarian company which makes climate control systems for buildings, will list its shares on the Budapest Stock Exchange (BÉT) in the first half of next year, rather than this year as planned earlier, CEO Zoltán Perényi announced on Monday.

Because of a restructuring, Genex was unable to avail of a grant to defray the costs of listing from the Ministry of Economy and Transport by the deadline. Therefore, it decided to put off the listing until next year, Perényi said. He said Genex has already signed a contract on listing the shares, but has still not found a brokerage to organize the issue.
Genex's annual revenue from sales of climate control systems comes to Ft 4 billion-Ft 5 billion, Perényi said, declining to reveal the company's profits.

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