Duna House IPO suspended
The National Bank of Hungary (MNB) suspended an initial public offering of shares of real estate broker Duna House Holding today at the request of the issuer, state news agency MTI reported.
The MNB also instructed Duna House to supplement its listing prospectus.
Duna House and owner Medasev Holding requested the suspension of the IPO due to a bill submitted to lawmakers by the government that could affect rules on brokering credit.
Brokering financial products is a "significant pillar" of Duna Houseʼs operations and changes to the regulations governing such activities "could influence the companyʼs performance in the business segment", Duna House said.
The bill, submitted to Parliament by the economy minister late Tuesday, would cap mortgage brokersʼ commissions at 2%.
Duna House launched the IPO on Monday and had planned to offer up to 1 mln of its 3.06 mln shares at a maximum price of HUF 4,250. The IPO was set to run until November 20.
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