Are you sure?

DunaDome, Hejja Befektető obtain stakes in econet.hu above 5% disclosure threshold

Hungarian companies DunaDome Kft and Héjja Befektető es Vagyonkezelő Kft on February 22 obtained stakes via private placement above the 5% disclosure threshold in media and IT company econet.hu, the latter company announced on Thursday evening.

DunaDome, majority owned by supervisory board member Kristóf Nobilis, acquired 5 million econet.hu shares, increasing its stake in the company to 5.8 million shares, from 1.17% to 8.47%.

Héjja Befektető és Vagyonkezelő, which previously owned no econet.hu shares, also acquired 5m company shares, giving Héjja Befektető a 7.3% stake in econet.hu.

The econet.hu company announced on November 22 that it would raise HUF 1.2 billion - 2.2 billion in capital via private placement at HUF 120 per share to finance the purchase of festival organizer Sziget Kulturális Menedzser Iroda.

Three other companies own a stake of more than 5% in econet.hu – MKB Bank, with a stake of 10.58%, Szigerta Invest along with Károly Gerendai and Gábor Takács, with a stake of 5.18%, and Erste Befektetési, with a stake of 5.02%.

MKB Bank acquired the econet shares on commission by a client and does not wish to exercise its voting rights, the bank said on February 2011 . The packet will get to Canongate Investments, raising its stake from 4.71%, and to Stirling Investments, raising its stake from zero to 4.28% once the related futures contracts opened by the two businesses expire. Closing of the transaction will give a 15.3% indirect stake to Csaba Balázs, econet said.

Shares of econet.hu trade in the A-category at the Budapest Stock Exchange.