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UPDATED Biomedical Computer Technologies applies for listing

Biomedical Computer Technologies submitted an application to list its shares on the Budapest Stock Exchange on May 30, the bourse said on Wednesday.

Biomedical Computer Technologies had net assets of HUF 5m at the end of 2010, public records show. It had no revenue in 2010 and booked a HUF 22,000 loss.

Biomedical wants to raise capital to fund the development of an invention that replaces battery acid with hydrogen, CEO Sándor Kovács told MTI. Biomedical gained access to the invention as a result of its merger with Hydro-Tar, he added.

Biomedical was established with registered capital of HUF 5m last November. Registered capital was raised to HUF 805.5m in January as the result of the merger with Hydro-Tar. The nominal value of shares was also lowered from HUF 10,000 to HUF 100 apiece.

Biomedical says it is a drug and healthcare products wholesaler.

Mr Kovács said the company expects to float its 8m ordinary shares by the end of June.