Plotinus trades as Akko Invest from Wednesday
provided by BSE
Listed holding company Plotinus will trade under the new name Akko Invest from Wednesday, state news agency MTI reported, citing a resolution by the chief executive of the Budapest Stock Exchange (BÉT).
Plotinus shareholders approved the name change at an extraordinary general meeting in January. The shareholders also took other important decisions with the aim of growing the company.
The changes were made after the investment company of György Ádámosi, earlier a stakeholder in the listed companies Appeninn and Altera, acquired a stake in Plotinus.
"Following these changes, the investment holding company wants to expand its circle of investors and plans growth, an active presence on capital markets and the raising of capital," Plotinus said after the EGM.
Data on the BÉT website, last refreshed on March 1, show 80.6% of Plotinus shares are treasury shares, which do not confer voting rights. The remaining 19.4% of the shares are in free float.
Plotinus earlier launched a share buyback program with the intention of delisting the company. Plotinus shares closed at HUF 19,400 on Wednesday, up 104.2% in the year to date.
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.