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Duna House to start issuing shares next week

In Hungary

Hungary-based real estate broker Duna House will launch an initial public offering of its shares on October 17, with the IPO due to conclude on October 27, the company said today, according to Hungarian news agency MTI.

Duna House plans to sell 150,000 shares in a public offering to private investors, while institutional investors can participate in a private listing for 750,000 shares. 

A maximum 75,000 of the shares at the public offering will be available with a 10% discount price, with each buyer limited to 250 shares.

If investors oversubscribe shares in the public offering, Duna House says it can redistribute an additional 450,000 shares from the private listing to the public.

The price of Duna House shares in the IPO will be between HUF 3,900 and HUF 5,250. The final price will depend on that agreed to at the private listing. The final price of the shares will be determined two days after the end of the listing period.

Duna Houseʼs common stock consists of 3.06 million shares, with a face value of HUF 50 each.

Prospective shareholders will be able to start trading the papers on the Budapest Stock Exchange some two to four weeks after the end of the public and private offerings.

The IPO is lead-managed by Concord Securities and shares can also be bought at designated branches of Erste Befektetesi, Equilor Befektetesi, MKB Bank and Raiffeisen Bank.

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