Listed holding company Altera has announced the appointment of former Appeninn CEO Gábor Székely as Chief Investment Officer, to advance the companyʼs automotive growth strategy as it embraces the four automotive companies of Wallis in the future, according to a press release sent to the Budapest Business Journal.
Székelyʼs task will be to utilize his expertise on the stock exchange and in company management in managing the further growth and capital market transactions of the automotive companies of Wallis entering the stock exchange via Altera, and of the investment company embracing this group of companies, according to the press release. The company is continuing preparations for active capital market participation, while the Wallis Group automotive firms continue their journey toward the stock exchange as planned.
Ownership of Wallis’s four-member corporate group engaged in vehicle trading and services will be transferred to Altera. This means an almost tenfold increase in the founding capital of Altera, to HUF 3.4 billion, while its HUF 66.3 bln revenues reached last year (non-consolidated, based on Hungarian accounting rules) will make it the seventh largest company on the Budapest Stock Exchange.
Having graduated from the College of Finance and Accountancy in Budapest as a finance major, Székely entered the real estate management and investment market to gain comprehensive experience, assisting in the capital operations of significant Hungarian companies as a consultant, while participating in sales of industrial plants from an expert position. In 2009, Székely was among the founders and later became chief executive of holding company Appeninn.
As Chief Investment Officer, Székely will be responsible for the capital market presence of Altera, as well as the exploration of new investment opportunities for the investment holding, and the realization of these transactions, based on his earlier success and acquired knowledge, said the press release. His task is to ensure that the corporation utilizes the available financing options provided by the capital market in the most efficient way possible in the course of potential investment transactions, as Wallis aims at ensuring further growth for its group of automotive companies.