The floating of these shares on the Budapest Stock Exchange will increase the total number of Business Telekom shares traded at the BSE to 8,859,551 from 8,702,880. The total face value of the shares floated on Wednesday is HUF 15,677,100.
Business Telekom announced on Tuesday that the company plans to expand its operations into countries neighboring Hungary either through acquisition or establishment of company units. The company further reported that its board of supervisors had authorized management to purchase treasury shares equaling up to 25% of its current share capital in order to finance the planned expansion.
Business Telekom is a Standard-category issuer at the BSE.
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