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PannErgy sells 1.68 mln Pannunion shares

Alternative-energy company PannErgy announced on the website of the Budapest Stock Exchange that it had sold 1,677,914 shares of its packaging-materials unit Pannunion at a subscription price of Ft 250 per share in a public offer concluded on September 19.

PannErgy said that the public offer begun on September 8 had generated revenue of Ft 419.5 million (EUR 1.7 million).

PannErgy, formerly known as Pannonplast, owns 97% of Pannunion, while private individuals own the remaining 3% of the packaging-materials company.

PannErgy planned to sell between 1.5 million and 13.2 million of Pannunion's 26.95 million ordinary shares, whose nominal value is Ft 100. (MTI – Econews)