Masterplast to list shares in November
The management of Hungarian building materials maker Masterplast announced plans at a press conference on Thursday to list the company's shares in the second half of November, pending approval by regulatory authorities.
Masterplast hopes to tap the market for capital in the first half of 2012, depending on market conditions. It wants to use the fresh capital to expand production capacity.
Chairman-CEO David Tibor said turnover of the shares was expected to be minimal between the technical listing and the share issue.
At present, Tibor and deputy chairman Balázs Ács own 98% of Masterplast shares. The rest is held by the company's other managers.
Tibor said Masterplast expects to get several billion forints when it taps the market. Details of the share issue will be worked out by the end of the year, he added.
Masterplast, established in 1997, has units in 13 countries. It had consolidated revenue of €84.7m in 2010. After-tax profit came to €160,000.
Masterplast has 10m shares with nominal value of HUF 100 apiece. It has net assets of more than HUF 5bn.
ADVERTISEMENT
Gross Average Earnings at HUF 528,800 in January
Hungarian Lawmakers Ratify Finland's NATO Accession
Graphisoft Park Delays Transition to Dividend Payment in EUR
HIPA Awards 'Investors of the Year'
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.
