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AutoWallis considering more acquisitions before yearend

Automotive

Listed car seller AutoWallis could disclose more acquisition news before the end of the year, CEO Gábor Ormosy said in an interview published business daily Világgazdaság,

About a week earlier, the firm raised HUF 10 billion in a public share offering, selling HUF 2.5 bln of its shares to retail investors and HUF 7.5 bln to institutional investors.

The company will use the proceeds to finance HUF 16 bln-38 bln of acquisitions and business developments in the pipeline until 2025.

Ormosy said AutoWallis had put acquisition talks on the back burner during the share offering.

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