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Bakery firm plans share flotation in coming years

Baked goods maker Zalaco plans to list its shares on the stock exchange, possibly in 2022 or 2023, owner-CEO László Berta said on Wednesday, state news agency MTI reported.

Zalaco, which will celebrate its 70th anniversary next year, also has plans to establish an open development and training center in the short term, Berta added.

Floating Zalaco shares could raise funds of HUF 3-6 billion to finance long-term developments, the report noted.

Zalaco had revenue of HUF 8.46 bln last year, and projects revenue of HUF 10 bln this year, or HUF 12 bln along with its associated companies. The group employs 960 people.

A production line making frozen products at the companyʼs recently inaugurated new plant is scheduled to start production in March 2020, and is expected to generate additional revenue of about HUF 6 bln a year alone.