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Futureal investment arm to float shares on bourse

Holding company Finext, the capital investments arm of Hungarian property developer Futureal, has submitted an application to list its shares on the Budapest Stock Exchange (BSE), the bourse said.

Futureal CEO Gábor Futó said early in October that Futureal would spin off its capital investment activities into Finext, keeping two-thirds of the company's portfolio in property and the rest in capital markets. One week later, Finext's venture capital fund was announced as one of eight fund managers picked to manage some HUF 45 billion in monies as part of the New Hungary Venture Capital Program by the National Development and Economy Ministry. (MTI – Econews)