OXO Technologies Looks for New HQ Elsewhere in EU

Photo by János Bugány/MTI

Listed OXO Technologies Holding on Friday said its board cleared the company to start looking for a new headquarters elsewhere in the European Union that provides its targeted investors "with a more familiar operating environment", according to a report by state news wire MTI.

OXO noted that it has begun to establish ties with investors in Western Europe and in Asia, and is expanding its staff abroad. OXO switched over from Hungarian Accounting Standards to International Financial Reporting Standards at the start of 2023, and is now doing its accounting in euros, not forints, it said.

The currency in which OXO's shares trade will be euros from February 15, 2023, it added.

The change of HQ does "not impact in any manner" the trade of OXO shares on the Budapest Stock Exchange, OXO said.

Sustainability

The Hungarian Forestry Firm Working to Restore Soil, Spread Carbon Credits

Music

Dániel Franczia, Veszprém’s Master of the Egyptian ‘Goblet Drum’

Deals

Hungary to Acquire Controlling Stake in GySEV

Construction

Hungary’s Construction Activity Falls in July

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.