NABI shares distributed
Wednesday, September 14, 2005, 09:01
The First Hungary Fund, the majority owner of Hungarian bus maker NABI Rt, started distributing its shares in NABI to various members of the fund, NABI announced on the website of the Budapest Stock Exchange yesterday. The fund and its shareholders will probably shortly announce ownership changes affecting stakes exceeding 5% in NABI. The fund, which owned 54.06% of NABI at the end of August, decided to liquidate the stake at the end of last year. In addition to fund members, some shares will also be sold to strategic investors. NABI had losses of $11.2 million in the first half of 2005, compared to losses of $ 4.3 million in the same period a year earlier.