AKKO Invest shares enter Premium category of BSE

Banking

Photo courtesy Budapest Stock Exchange

Asset management company AKKO Investʼs shares are now being traded in the Premium category of the Budapest Stock Exchange (BSE), according to a press release sent to the Budapest Busines Journal.

Zoltán Prutkay, president of AKKO Invest explained that the company had made considerable progress in the Hungarian capital market over the past months: their shares had been included in the top categories of the Budapest Stock Exchange, being listed in the BUX index since September, and traded in the Premium category starting November 2.

He emphasized that the company had more than 1,000 shareholders, so the growth of the company was directly monitored by many people. Transparent operation is especially important for them, so they are happy to meet the additional requirements resulting from the Premium membership, he added.

He also noted that they continued looking for growth opportunities, and they were planning on investment decisions that aim to increase the shareholder value. One step towards this goal is the September decision of the board of directors regarding the largest acquisition of AKKO’s history, which is also considerable from the aspect of the Hungarian property management sector.

The asset management company decided about the purchase of NEO Property Services Zrt. (previously STRABAG Property and Facility), a company owned by WING Zrt. The closure of the transaction, which the company plans to finance from its own financial sources and bank loans, requires the availability of the necessary funding and the approval of the company’s shareholders. 

Regarding the introduction of AKKO’s shares in the Premium category, István Máté-Tóth, deputy CEO of BSE, said that the growth and the increasingly considerable presence of the company in the capital market reflects the successful realization of the strategic objectives of the Budapest Stock Exchange, aiming to drive capital funding: the category shift of AKKO Invest is another welcome capital market milestone in the midst of this challenging year.

Prutkay added that being included in the BUX index and the Premium category, as well as the acquisition of NEO are significant steps for the company towards the realization of its growth plans, which aim to make the company a major asset management company of the Hungarian capital market.

According to the press release, AKKO Invest supports the strategy of the Budapest Stock Exchange announced in 2016, and trusts that new measures will be introduced in the future for the further development of the capital market and for increasing the market liquidity of the stock market.

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