Hungarian trucking company Waberer’s International is preparing for an IPO on the Budapest Stock Exchange in July, according to media claims.
If accurate, the reports will be hugely welcome in the Hungarian capital. Waberer’s has been touted as the leading private candidate to help revive the BSE via a float since the Magyar Nemzeti Bank took over the bourse in late 2015. Several other names identified to bne IntelliNews appear to have fallen back from any likely action in the near future.
Waberer’s had looked to have given up on its IPO plans last year, when private equity fund Mid-Europa Partners raised its stake to 97.1% and delisted the transport company’s shares from the BSE.
However, Mid-Europa has now appointed Citibank, Erste, Berenberg and Renaissance Partners to set up the float, “people familiar with the plans” told the Financial Times. Waberer’s is expected to have a market capitalisation of more than €500mn, which would make it the biggest IPO in Hungary in more than a decade, the newspaper claims.
Certainly, it appears a good time to strike. Hungary’s main BUX index has hit all-time highs in recent weeks, as strong economic growth meets loose monetary policy. The index was among the top global performers in the last two years, rising 37.8% in 2016 after a 40% increase in 2015.
Related Articles
Eurozone manufacturing growth hits four-year high in April but Middle East war drives record price surge
Eurozone manufacturing activity expanded at the fastest pace in nearly four years in April as factories rushed to build safety stocks ahead of expected price rises and supply shortages linked to the ... more
Druzhba oil flow to Slovakia and Hungary is renewed
The oil flow from the Russian Druzhba pipeline was renewed late on August 19. “The flow of oil to Slovakia is standard at the moment,” the country’s Minister of Economy Denisa Saková (Hlas) ... more
US Westinghouse could develop electricity storage site near Slovak Gabčíkovo hydroelectric power plant
US power company Westinghouse is reportedly in talks with the Slovak government to develop a new type of electricity storage site near the Gabčíkovo hydroelectric power plant (HPP) on the Danube ... more