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HybridBox shares listed on German bourses

The shares of Budapest Stock Exchange-listed HybridBox were floated in the open market section of the Frankfurt and Stuttgart stock exchanges on October 14, the company said on the BSE website.

The company also said it had acquired 100% of Seychelles-registered PHERIX Enterprises Corporation on October 15, without providing any details.

The company expects revenue primarily from sales of the device in the first two years, after which revenue could come from content services and advertising.

HybridBox projects losses for this year and pre-tax profit of HUF 105 million for 2011. Revenues are estimated at 141.8 million this year and more than HUF 1 billion in 2011.

HybridBox's 10.2 million shares, with a nominal value of HUF 50 apiece and representing 100% of registered capital of HUF 510 million, were floated at the BSE on September 29. The shares closed at HUF 571 on Friday.

HybridBox Médiainformatika is a Hungarian company whose hardware and software combine internet and television in a seamless platform. It was set up by Hungarian investors on July 29. (MTI-Econews)