Duna House initiates public share offering

Telco

Hungarian real estate broker Duna House launched a public offering for its shares today, with the maximum share price set at HUF 4,250, the company said in a statement today, according to Hungarian news agency MTI.

Screen grab of the firmʼs website.

Shares would be on offer until November 20, enabling investors to purchase shares at the branches of Concorde Értékpapír, Equilor Befektetési, Erste Befektetési and Raiffeisen Bank.

The real estate broker is planning to offer a maximum of 1 million shares for purchase, out of the total 3.06 million, with an option of selling another 100,000 on high demand, the news agency reported.

At least 180,000 shares will be offered for sale publicly and 820,000 will go on sale in a closed procedure for institutional investors, according to MTI. On high demand, the company says, another 600,000 shares at the closed auction could be reclassified and made available for public sale, MTI reported.

Duna House foresees an income of HUF 765 mln to HUF 4.675 bln as a result of the sale of shares, the news agency added.

Dunahouse reported in mid-October that it would begin listing shares on the Budapest Stock Exchange (BSE) in order to expand on the market and become a regional player. 

Duna Houseʼs net sales revenue rose 34% to HUF 1.34 bln in the first half of 2015 from a year earlier, the company said. After-tax profits rose almost 45% to HUF 422 mln in the period, it added.

In 2014 group sales rose 40% to HUF 2.28 bln and after-tax profit rose nearly 50% to HUF 735 mln, MTI added.

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