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FreeSoft issues HUF 300 mln in corporate bonds, sells stake in Australian unit

Hungarian software company FreeSoft on Wednesday conducted a private placement of HUF 300 million in corporate bonds, and, in a separate move, sold its entire stake in Australian unit FreeSoft Asia-Pacific Proprietary Limited Company (Pty).

FreeSoft said Wednesday evening that 23 private and six institutional and investors subscribed all 100 offered 2012/C bonds, each with a nominal value of HUF 3 million and paying 10% interest upon the one-year expiration date of May 31, 2012.

FreeSoft reported in a separate announcement that the company had sold its entire 18.3% stake in the Australian company FreeSoft Asia-Pacific to an unspecified buyer. The company did not reveal the price for the stake which was worth one-million Australian dollars (HUF 197 million or €740,000) at nominal value.

FreeSoft is a B-category issuer at the Budapest Stock Exchange.