Plotinus issues convertible bonds for HUF 640.8 mln

Telco

Plotinus Holding issued convertible bonds valued at HUF 640.8 mln as part of its HUF 2 bln bond program, the listed company announced late yesterday.

Retail investors purchased HUF 486.9 mln in the bonds with institutional investors buying HUF 153.9 mln.

Plotinus said that Tündérszikla, directly owned by Plotinus Chairman Viktor Zsiday, bought HUF 200.6 mln in bonds and Hold Alapkezelő, in which Zsiday indirectly has a majority stake, bought HUF 65 mln. Katalin Zánkai, a close relative of Zsiday, also purchased HUF 28.8 mln in bonds.

The four-year PLOTINUS 2019/A bonds have a nominal value of HUF 100,000 and carry a 2% annual coupon. During their run, each bond may be converted into 20 Plotinus shares.

The bonds will be available for trade on the Budapest Stock Exchange from June 23.

Earlier, Plotinus said proceeds from the sale would be invested in the "undervalued capital market and real economy assets".

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.