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Gov’t bourse subsidy available to companies again

The government will offer this year a combined Ft 100 million in subsidies to compensate the costs of getting a first-time listing on the Budapest Stock Exchange (BSE), says a decree by the Ministry of Economics and Transportation published yesterday. This is the same amount that was offered to companies floating their shares on the BSE last year. Last year applications for Ft 112 million in funding were received of which Ft 87.8 million were accepted. However, among the four winners -- TvNetWork, Állami Nyomda, and GENEX -- only TvNetWork and Állami Nyomda were listed before the deadline prescribed for claiming the subsidies, and Állami Nyomda decided not to claim the subsidies. Therefore, only TvNetWork made use of the support, accepting Ft 25 million, which was enough to pay for half of its listing costs, the maximum limit for the subsidy. (Econews)