AutoWallis public offering starts
A public offering of shares of listed car seller AutoWallis started on Monday with a price range of HUF 107-122, according to a report by state news wire MTI.
The price range for the public offering - the first on the Budapest Stock Exchange's regulated market since 2017 - compares to a 30-day average price of HUF 126.
AutoWallis plans to raise HUF 6 billion-8 bln with the public offering, but could accept oversubscription. It plans to use the proceeds to finance HUF 16 bln-38 bln of acquisitions and business developments in the pipeline.
The company expects institutional investors to buy HUF 5 bln-6.5 bln of its newly issued shares and retail investors to purchase HUF 1 bln-1.5 bln.
AutoWallis plans to issue at most 93,457,943 shares in the offering which runs until November 9.
Brands represented by AutoWallis include BMW passenger cars and motorcycles, Citroen, Dacia, Isuzu, Jaguar, Land Rover, Maserati, MINI, Nissan, Opel, Peugeot, Renault, Ssangyong, Suzuki and Toyota.
Acquisitions and organic growth have lifted the company's sales this year.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
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.
