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Trading in new AutoWallis shares starts on BSE

Automotive

From left to right: Richárd Végh, CEO of Budapest Stock Exchange; Gábor Ormosy, CEO of AutoWallis Plc.; Gábor Székely, Investment Director of AutoWallis Plc.; Zsolt Müllner, chairman of the Board of Directors of AutoWallis Plc. 

Photo by AutoWallis.

The newly issued shares of listed car seller AutoWallis are traded in the Premium Category of the Budapest Stock Exchange from Wednesday, the company said, according to a report by state news wire MTI.

Some 85,470,085 new AutoWallis shares were listed on the Budapest bourse. 

AutoWallis raised HUF 10 billion in a public share offering closed on November 9. The issue price was HUF 117, in the upper third of the HUF 107-122 price range. AutoWallis had planned to raise HUF 6 bln-8 bln with the offering but increased the amount after investors placed orders for more than HUF 17 bln of shares.

The primary aim of the share issue was to finance business developments and acquisitions of HUF 16 bln-38 bln planned until 2025, CEO Gábor Ormosy said. AutoWallis's revenue target for this year of HUF 191-212 bln could double by 2025, he added.

Richard Végh, the CEO of the Budapest Stock Exchange, noted that AutoWallis's share issue had been the first on the regulated market of the BSE since 2017, adding that there had not been a retail share subscription on this scale on the Hungarian bourse for more than ten years. 

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