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Capital raised at Bonafarm units

Capital raises of more than HUF 4 billion have been made or are underway at members of the Bonafarm group, owned by Hungarian food industry magnate Sándor Csányi.

So far this year, Bonafarm's registered capital was raised from HUF 5 million to HUF 1.3 billion, hog unit Fiorács's was raised from HUF 1.2 billion to HUF 1.9 billion and dairy unit Sole-Mizo's was raised from HUF 2.8 billion to HUF 4 billion, said Bonafarm PR manager Tamás Éder. A capital raise of about HUF 2.2 billion is underway at crop and hog farmer Dalmandi Mezőgazdasági that will bring registered capital to HUF 4.9 billion.

The capital raises will cover developments underway as well as allow repayments of loans, he said.

Bonafarm's eight units had net revenue of HUF 125 billion in 2010, Tamás Éder said. This year the group targets revenue growth of 5-6%.