Graphisoft Park, OXO Shares to Trade in Euros From Feb 15
Photo courtesy Budapest Stock Exchange
Shares of Graphisoft Park, which owns and operates a business park in the north of the capital, and OXO Technologies will trade in euros, instead of forints, from February 15, resolutions issued by the Budapest Stock Exchange on Monday show.
Graphisoft Park shareholders mandated the board to take steps to switch the currency in which the company's shares trade from forints to euros, and to pay dividends in euros, at an extraordinary general meeting late in November.
The proposal for the measures had been made by a shareholder who argued that the company's revenue and costs are in euros, its accounting is in euros, and its guidance and dividend proposals are also in euros.
The switch to euros for OXO shares follows a change in the holding company's accounting from forints to euros. OXO is making efforts to establish ties with investors in Western Europe and in Asia, as well as expand its staff abroad.
In separate resolutions, the bourse suspended trade of shares in Graphisoft Park and OXO on February 13-14 to ensure the "orderly settlement" of transactions concluded in forints.
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