Masterplast submits application to list shares

Competition

Hungarian building materials company Masterplast has submitted an application to list its shares on the Budapest Stock Exchange, the bourse said on Tuesday.

Masterplast announced in October that it wanted to list its shares on the BSE in the second half of November, pending approval by regulatory authorities.

Masterplast hopes to tap the market for capital in the first half of 2012, depending on market conditions, the company said at the time. It wants to use the fresh capital to expand production capacity, it added.

Masterplast, established in 1997, has units in 13 countries. It had consolidated revenue of €84.7m in 2010. After-tax profit came to €160,000.

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