Waberer’s International pulled back from bourse at last minute

Deals

Hungarian road haulage company Waberer’s International had requested the delisting of its shares from the Budapest Stock Exchange (BSE) in a June 23 letter, according to a resolution published by the BSE’s chief executive on Friday.

Shares of the company were about to be listed on the Budapest bourse, but shortly before trade could have started in its shares, the company postponed the trading, citing an “unfavorable international environment”.  

Many changes have been going on in Wabererʼs International lately. On June 22, private equity fund Mid Europa Partners announced it would buy out the firm’s founder György Wáberer, as he was retiring. A week later, Wáberer said at a press conference that he was set to join Mid Europa partners as a senior strategic advisor. During this press conference on June 29, Wáberer said the shares of the firm could be listed next year.

However, on June 23, just a day after the buyout was announced, Waberer’s International’s majority owner initiated a vote by shareholders to convert the firm from a public into a private company, excluding the listing of its shares on the Budapest Stock Exchange (BSE).

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