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Masterplast to float shares when the time is right

Hungarian building materials company Masterplast Group is waiting to float its shares on the Budapest Stock Exchange until external conditions are appropriate and it needs capital to expand, CEO Tibor Dávid told internet portal portfolio.hu.

Dávid declined to say how much capital Masterplast would seek to raise with a listing, but said the company wanted to build production capacity in other countries in the region. Masterplast also wants to start offering complex services, especially in the area of insulating older homes undergoing renovation, he added.

Masterplast's revenue fell 23% to €85 million in 2009, according to preliminary figures, dropping in part because of the weakening of currencies in the region against the euro, Dávid said. This year, the company sees double-digit revenue growth. (MTI – Econews)