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Biomedical shares debut on Budapest Stock Exchange

The Budapest Stock Exchange (BSE) said it began trading 805,055,000 shares of Hungary's Biomedical Computer Technologies in the B-category on Wednesday.

The shares have a face value of HUF 100 apiece.

Biomedical Computer Technologies decided to list its shares in order to raise capital to fund the development of an invention gained through its earlier merger with Hydro-Tar that replaces battery acid with hydrogen, company CEO Sándor Kovács said on June 1.

Biomedical Computer Technologies, which was established in November 2010, had net assets of HUF 5 million at the end of last year, public records show. It had no revenue in 2010 and booked a HUF 22,000 loss.

Two Hungarian private individuals each own 49.7% of the company, according to data published on the BSE's website.

There was no turnover on Biomedical Computer Technology shares at the Budapest Stock Exchange at an offering price of HUF 255 a share as of 2:15 pm on Wednesday.