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Masterplast owners to offer shares for auction

Telco

Dávid Tibor and Balázs Ács, the two main owners of Hungarian stake in the building materials manufacturer Masterplast, are planning to offer up to 400,000 of their shares at an auction on the Budapest Stock Exchange (BSE) on June 3, the company announced yesterday.

Bids will start at HUF 520 per share for up to 2.9% of the company’s share capital, which will be used to help Masterplast achieve its targets. The starting price is slightly under the HUF 540 average price reached by the share in the past 30 days, Hungarian news agency MTI said, adding that the shares were trading at HUF 589 yesterday afternoon.

Payment of a dividend is possible in future, conditional on Masterplast’s stable, profitable operation, as well as its investments or acquisitions, the company said. Masterplast’s after-tax profit fell 37% to €766,000 last year.

Excluding a write-off related to an investment in Ukraine, after-tax profit would have reached €1.6 mln, Masterplast said, adding that revenue was flat at €81.6 mln.

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