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Beltáv subscribes NordTelekom capital raise

Telco

Hungary's NordTelekom on Monday said it raised registered capital by HUF 170m through a private placement subscribed by telco Beltáv.

NordTelekom said earlier its shareholders mandated the board to raise capital through the issue of new shares and use at most HUF 200m of the proceeds to acquire Beltáv.

Nordtelekom had after-tax profit of HUF 5m on revenue of HUF 264m in 2010.

The company had net assets of HUF 243m at the end of 2010.

 

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