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NABI shares to trade under Exbus name from Tuesday

The Budapest Stock Exchange (BÉT) announced on Monday shares of busmaker NABI would be traded under the name Exbus from July 18.

A decision by NABI shareholders to change the company's name to Exbus Nyrt was registered by the company court on June 23. NABI, pressed by debts, earlier agreed with its creditors that they buy shares of its wholly-owned subsidiary NABI Inc, NABI Rt's business infrastructure, a plant in Kaposvár as well as its contracts and name.
According to earlier plans, NABI would have been wound up after the sale. But at an AGM on April 27, NABI shareholders narrowly rejected a proposal by the board to wind up the company. At the same AGM, a new ownership group related to Bankar Holding, then voting with only 1% of all shares, proposed that NABI should go on operating and said that they would inject new capital into the company to finance acquisitions. According to plans, NABI will start auto parts trading.