Are you sure?

Nordtelekom applies to float shares on bourse

Internet, cable television and telephone service provider Nordtelekom has applied to list its shares on the Budapest Stock Exchange, the bourse said on Thursday.

Nordtelekom, which is owned by Hungarian and foreign companies, will list 202,680 shares on the BSE based on a resolution by market regulator PSZÁF.

Nordtelekom chairman Mihály Gácsi said the company was listing its shares to make operation more transparent and raise cash latter, answering a question by MTI. The company is in talks on an acquisition in Hungary and wants to increase its subscriber numbers this way, he added.

Currently Nordtelekom has 7,000-8,000 internet subscribers.

Nordtelekom will publish the prospectus for its shares issue on Friday, Gácsi said. (MTI-ECONEWS)