Fotex shares climb 4.3% on last day of trade in Budapest
Shares of Fotex Holding SE rose HUF 10 or 4.33% to close at HUF 241 on Monday, their last day of trade on the Budapest Stock Exchange.
The stock, which will now trade in Luxembourg, generated the most volume on Monday, with 965,593 shares changing hands in 594 transactions. Turnover totaled HUF 230.9 million or 3.9% of the session total.
On Monday, Fotex said it gave brokerage Concorde a purchase order for another 140,000 Fotex shares at a maximum price of HUF 240 per share.
Fotex, which has been actively buying treasury shares, directly held 1,702,369 treasury shares before the order. At group level, treasury share stock came to 12,026,259 shares, or about 17% of all ordinary shares and 16.5% of total shares.
Fotex has 70,723,650 ordinary shares and 2 million dividend preference shares.
Fotex shares were listed on the Luxembourg bourse at a price of €1.06 on February 23.
Fotex said in March that it would complete the transfer of trade in the shares to Luxembourg by the end of the month.
Fotex moved its headquarters to Luxembourg in 2009.
Fotex, established in 1984, was the second stock introduced on the Budapest bourse after its re-launch in 1990.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.