OCCO Eastern European buys 2.7 % stake in Állami Nyomda
Monday, December 19, 2005, 17:20
OCCO Eastern European Fund bought a 2.7% stake in Állami Nyomda Rt, a Hungarian printing house which listed its shares on the Budapest bourse earlier this month, the printing company announced. Cayman Islands-based OCCO Eastern European bought the stake on December 8, when Állami Nyomda first sold shares on the Budapest Stock Exchange, the printing company said in a bourse statement today. The holding is worth Ft 232.6 million ($1.1 million) based on today's market price. Állami Nyomda, based in Budapest, was the first company to list in Budapest in almost 15 months, hoping to gain from a surge in Hungary's benchmark BUX index. The company sold 242,000 shares to the public on December 8, including a 10.6% stake held by the company, following the sale of 664,653 shares to institutions in a private placement. Shares of Állami Nyomda rose 5% since their listing.