BILK shares could be listed on Budapest bourse from June
Image courtesy of Budapest Stock Exchange (BÉT)
Shares of BILK Logisztikai, one of the biggest logistics parks in the capital, could be listed on the Budapest Stock Exchange (BÉT) as soon as June, owner György Wáberer said in an interview with business news site portfolio.hu.
"The time has come to raise capital for further real estate investments with the listing of a minority stake in BILK," Wáberer said, suggesting that BILK could be transformed into a real estate investment trust (REIT).
Favorable changes in the regulatory environment regarding REITs "play a big role" in the decision to list BILK, he said, noting that the local form of a REIT, known by its Hungarian acronym SZIT, is exempt from corporate tax and local business tax but must pay shareholders 90% of profits as dividend.
Wábererʼs niece Lívia Wáberer, who heads BILK, told portfolio.hu that the company could pay investors dividends in euros, as that is the currency of most of the companyʼs revenues and expenditures.
In addition to a 4,000 square-meter project at BILK, other investment projects in Wábererʼs portfolio include a 22,000 sqm office building, a 20,000 sqm luxury residential building in the Buda hills, and a 15,000 sqm development at the port of Csepel, in the south of the capital, noted state news agency MTI.
Wáberer sold his stake in a big road haulage company that bears his name two years ago and is now concentrating on property, MTI added.
ADVERTISEMENT
Áder Flags Delay in Full-scale Rollout of Bottle Return Syst...
India's G20 Presidency, Dawn of New Multilateralism - Narend...
AutoWallis Exceeds Entire 2022 Revenue, Profit in 9 Months
TikTok Commits to Improved Consumer Communication in Hungary
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.
