ADVERTISEMENT

Norbi Update shares could be delisted

Telco

Shareholders of Norbi Update, the Hungarian lifestyle and nutrition franchise company, could vote to delist the firm’s shares during an annual general meeting to be held on May 31, according to reports.

Norbert Schóbert and Réka Rubint, proprietors of Norbi Update.

The company’s shareholders will also decide on a proposal to convert Norbi update into a closed company limited by shares (Zrt.), Hungarian news agency MTI reported today.

Norbi Update launched trade of its shares on the Budapest Stock Exchange in November 2014 with investors subscribing to 831,764 shares, above the minimum 800,000, and below the maximum of 2.2 million existing shares, on offer at an initial price of HUF 990 apiece, according to earlier reports.

Early last month, the National Bank of Hungary (MNB) fined Norbi Update HUF 1 million for failing to comply with disclosure rules by the deadline. In addition to the fine, the MNB also announced in early April that it was investigating the company for losses incurred through a brokerage scandal, according to reports.

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

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

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.