Duna House reconvenes EGM to vote on capital raise

Sustainability

Real estate broker Duna House said it is convening an EGM scheduled for November 28 to authorize the board to raise capital by HUF 1.5 billion, Hungarian news MTI reported today.

Duna House told MTI in a statement that the company court had rejected its request for registration of an amendment of the company statute and the authorization of the board to raise capital – both adopted at an EGM on September 16 – because of a procedural error.

Duna House noted that its shareholders pledged before the initial public offering of its shares to use HUF 1.5 bln from the proceeds of the shares to raise the registered capital of Duna House Holding if the transaction was successful. The IPO and private placement were completed on October 27, with Duna House raising HUF 2.6 bln in the public offering.

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