ADVERTISEMENT

Masterplast share auction oversubscription nearly triple

Telco

An auction of shares of Hungarian building materials manufacturer Masterplast yesterday attracted bids for almost three times the offer, the company told Hungarian news agency MTI.

Bids for 1.17 mln of the maximum 400,000 shares on offer were made by seven investment service providers. The average sale price was HUF 549 per share, almost 6% over the HUF 520 starting price.
 
The shares were offered by Masterplastʼs two biggest owners, Dávid Tibor and Balázs Ács, who called the auction to help the company achieve its targets, raise share turnover and boost the proportion of equity held by retail investors.
 
Payment of dividends is possible in the future, on the condition of Masterplastʼs stable, profitable operation, and depending on investments or acquisitions, the company said earlier.
 
Masterplastʼs 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. Revenue was flat at €81.6 mln.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.