BILK shares could be listed on Budapest bourse from June

Industrial

Image courtesy of Budapest Stock Exchange (BÉT)

Shares of BILK Logisztikai, one of the biggest logistics parks in the capital, could be listed on the Budapest Stock Exchange (BÉT) as soon as June, owner György Wáberer said in an interview with business news site portfolio.hu.   

"The time has come to raise capital for further real estate investments with the listing of a minority stake in BILK," Wáberer  said, suggesting that BILK could be transformed into a real estate investment trust (REIT). 

Favorable changes in the regulatory environment regarding REITs "play a big role" in the decision to list BILK, he said, noting that the local form of a REIT, known by its Hungarian acronym SZIT, is exempt from corporate tax and local business tax but must pay shareholders 90% of profits as dividend.  

Wábererʼs niece Lívia Wáberer, who heads BILK, told portfolio.hu that the company could pay investors dividends in euros, as that is the currency of most of the companyʼs revenues and expenditures.   

In addition to a 4,000 square-meter project at BILK, other investment projects in Wábererʼs portfolio include a 22,000 sqm office building, a 20,000 sqm luxury residential building in the Buda hills, and a 15,000 sqm development at the port of Csepel, in the south of the capital, noted state news agency MTI.

Wáberer sold his stake in a big road haulage company that bears his name two years ago and is now concentrating on property, MTI added.

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