Kinstellar has advised the Budapest Stock Exchange Plc on listing its shares in the BSE regulated market Standard category. The company went public on June 21, 2023, on the 33rd anniversary of its re-establishment.
According to Kinstellar, “the listing significantly supports the ownership objectives of the National Bank of Hungary as the majority shareholder of the BSE as well as the international ambitions of the BSE, and is of exemplary importance, as the BSE aims to promote the benefits of going public among domestic medium-sized companies.”
“The listing of the BSE is in line with the strategy of developing the domestic capital market, providing the central player of the domestic capital market with a long-term sustainable operating environment that supports value creation, and supporting the efforts of the majority owner, the Hungarian National Bank, to attract new investors to the stock exchange,” the firm reported.
According to the firm, a total of 5.41 million dematerialized registered ordinary shares of the BSE, with a nominal value of HUF 100 each and a total nominal value of HUF 541 million, “were admitted to the Standard category of the Stock Exchange's regulated market through a technical listing with the assistance of Concorde Ertekpapir, Ersta Befektetesi, OTP Bank, PwC Hungary, and Kinstellar as advisors.”
The Kinstellar team included Partners Levente Hegedus and Gabor Gelencser, Senior Associate Aron Barta, Associate Judit Sos, and Junior Associate Veronika Heiszer.