After the public offering was closed with interest from investors that far exceeded all expectations, AutoWallis’s 85,470,085 new shares derived from the public transaction were admitted to the Hungarian trading floor in a ceremonious ringing of the bell at the Budapest Stock Exchange (BÉT). Trading was started by BÉT CEO Richárd Végh and AutoWallis CEO Gábor Ormosy. The significance of the AutoWallis share offering is shown by the fact that it was the first on the regulated Budapest Stock Exchange market since 2017, with retail subscription of this magnitude not seen on the Hungarian trading floor in more than 10 years. Compared to the preliminary plan of HUF 6-8 billion, investors submitted subscription applications totaling more than HUF 17 billion in the public offering closed on November 9. The listed vehicle company ended up issuing shares for HUF 10 billion at the rate of HUF 117, in the top third of the price range announced before the offering.

After AutoWallis’s successful public offering and the admission of the shares to the stock market, BÉT CEO Richárd Végh explained that this increase in capital is a milestone not only for the company but also for the Budapest Stock Exchange and in fact the entire capital market ecosystem, as the last traditional IPO in Hungary was in 2017. He added that AutoWallis’s presence on the stock market is a perfect example of how a company can utilize the possibility of growth offered by the capital market, and it should help inspire other stock exchange actors.

At the time of the IPO, Gábor Ormosy, CEO of AutoWallis, explained that the primary goal of raising capital is to provide financing for the HUF 16-38 billion in business developments and acquisitions planned by 2025. He emphasized that the Group’s listing on the stock exchange in 2019 and its public operation has had many advantages, which contribute to making it one of the most dynamically growing companies on the Hungarian trading floor. AutoWallis’s revenue is planned to be HUF 191-212 billion this year and may double to more than HUF 400 billion by 2025. The Group is proud that more than 1,200 investors have participated in the current public offering, and the Company now has almost 4,000 shareholders. Gábor Ormosy added that the increase in capital and the expansion of the range of investors helped fulfil a previous capital market-related goal, and the Company is continuing on its path that will allow AutoWallis to become a major vehicle trading company and mobility service provider in the Central and Eastern European region by the end of the decade.

In the picture, from left to right:

Richárd Végh, CEO of Budapest Stock Exchange

Gábor Ormosy, CEO of AutoWallis Plc.

Gábor Székely, Investment Director of AutoWallis Plc.

Zsolt Müllner, chairman of the Board of Directors of AutoWallis Plc

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