Budapest bourse to reshape system of listing categories
Photo courtesy Budapest Stock Exchange
The Budapest Stock Exchange (BÉT) will reshape its category system for the listing of equity series to better fit in with best international practices and help to strengthen the new BÉT Xtend market, the BÉT told Hungarian news agency MTI.
The amended categories will take effect for newcomers on January 1, 2019; issuers already listed will have to adopt the new system a year later, by January 1, 2020.
In order to be listed in the Standard category, a business will be required to have a minimum market capitalization of HUF 250 million, and at least 10% of free-float (or HUF 100 mln worth of free-float or a minimum of hundred shareholders) and at least one closed business year.
The current differing criteria for listings and for category reviews will be unified, and the bourse will check the continuous compliance of the issuers with the capitalization and free-float criteria twice a year both in the Prime and in the Standard segment.
Listing through a public transaction will no more be a condition in the Standard category. No newcomer will be accepted to the third, T (technical listing) category of the BUX; the bourse will instead invite businesses interested in the anteroom of the market into the BÉT Xtend market.
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