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econet.hu plans HUF 1.2 bln-2.2 bln capital raise

IT and media company econet.hu on Monday said it would raise HUF 1.2 billion – HUF 2.2 billion of capital in a private placement.

The purchase price will be the turnover-weighted average share price in the 30 days to November 26. The minimum issue price in the placement will be HUF 120 per share.

Proceeds from the issue will be used to cover payment due on the purchase price of festival organizer Sziget on November 29.

econet.hu's existing shareholders will have pre-emption rights for the shares. (MTI-Econews)