Duna House readying for potential IPO
Hungarian real estate broker Duna House is readying for an initial public offering (IPO) of its shares possibly as soon as this fall, the company announced yesterday, Hungarian news agency MTI reported.
The company launched an IPO last November, but was forced to put it on hold after the government delivered a bill to the legislature creating a limit on mortgage brokers’ commissions.
Duna House also said yesterdat that although it intends to propose shares to institutional and private investors, it has not addressed “several important questions”.
The owners of the company noted that in their opinion Duna House is stronger and has greater growth potential than before last year’s delayed IPO attempt, the press statement said.
Duna House recently purchased the largest real estate broker franchise network in Poland through bank credit and equity, the company said. The fund manager was granted a license and the company will move forward on a project to create 400-500 homes.
The CEO of the Budapest Stock Exchange (BSE) granted an extension for the deadline to begin trading in Duna House’s shares until December 31, Duna House announced last week on the BSE’s website.
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