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Lehn Consulting injects HUF 1.76bn into Appeninn

Switzerland's Lehn Consulting will inject HUF 1.76bn into property holding company Appeninn through the purchase of its receivables, Appeninn shareholders decided at an extraordinary general meeting on Thursday, the company said on Friday.

Lehn Consulting will subscribe 5.87 million new shares at a price of HUF 300 apiece in the transaction.

Lehn Consulting established Appeninn in December 2009 and holds 74.99% of its shares.

Appeninn was listed on the Budapest Stock Exchange on July 2. It had net assets of HUF 2.56 billion on June 30. The company manages property worth about HUF 10 billion through its units. (MTI-Econews)