ADVERTISEMENT

Bakery firm plans share flotation in coming years

Telco

Baked goods maker Zalaco plans to list its shares on the stock exchange, possibly in 2022 or 2023, owner-CEO László Berta said on Wednesday, state news agency MTI reported.

Zalaco, which will celebrate its 70th anniversary next year, also has plans to establish an open development and training center in the short term, Berta added.

Floating Zalaco shares could raise funds of HUF 3-6 billion to finance long-term developments, the report noted.

Zalaco had revenue of HUF 8.46 bln last year, and projects revenue of HUF 10 bln this year, or HUF 12 bln along with its associated companies. The group employs 960 people.

A production line making frozen products at the companyʼs recently inaugurated new plant is scheduled to start production in March 2020, and is expected to generate additional revenue of about HUF 6 bln a year alone.

ADVERTISEMENT

Regional income disparities remain pronounced Analysis

Regional income disparities remain pronounced

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.