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Duna House to launch public share offering on November 9

Sustainability

Shares of Hungary’s real estate broker Duna House will be available for public offering on November 9 at a maximum price of HUF 4,250 per share on the Budapest Stock Exchange (BSE), CEO of lead distributor Concorde Securities Károly Régely said today, according to Hungarian news agency MTI.

Screen grab of the firmʼs website.

The proceeds will be used to raise the Duna House groupʼs registered capital by a maximum of HUF 2.508 bln, the CEO said according to MTI.

The group plans to use the capital raise to finance regional expansion, the expansion of its real estate franchise network and the development of other activities, Duna House co-owner and co-CEO Guy Dymschiz said, according to the news agency.

Reuters reported on October 13 that Duna House would be listing shares on BSE, in order to expand on the market and become a regional player. The firm said it submitted the related documents and the prospectus to the regulator in the last few days, according to reports.

Duna Houseʼs net sales revenue rose 34% to HUF 1.34 bln in the first half of 2015 as compared to a year earlier, MTI reports. After-tax profits rose almost 45% to HUF 422 mln in the period. In 2014 group sales rose 40% to HUF 2.28 bln and after-tax profit rose nearly 50% to HUF 735 mln, MTI said.

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