Rahimkulov boosts stake in BorsodChem to 12.32%
Tuesday, October 25, 2005, 11:14
Megdet Rahimkulov, the head of Hungary's ÁÉB Bank Rt and the richest man in Hungary, has raised his stake in chemicals company BorsodChem Rt from 5.57% to 12.32%, according to an announcement in capital markets gazette Magyar Tőkepiac on Tuesday. The sale of 4,167,500 shares was part of Rahimkulov's strategy, announced in mid-September, to buy 15%-16% in BorsodChem, then sell the shares later at a premium of at least 50%. The contract for the shares was signed on Monday, according to the announcement.
Other big owners in BorsodChem include Vienna Capital Partners (21.52%), HSBC Bank (7.72%) and FTIF Templeton Eastern Europe Fund (5.2%).