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Plotinus trades as Akko Invest from Wednesday

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.