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AutoWallis public offering successfully closed with double oversubscription
AutoWallis’s public offering was closed on Tuesday with success surpassing all expectations. Compared to the HUF 6-8 billion originally planned, retail and institutional investors submitted subscription applications totaling more than HUF 17 billion in the announced price range of HUF 107-122. Both retail and institutional investors will acquire shares of the automotive company of the Budapest Stock Exchange for an issue price of HUF 117, located in the top third of the price range. To accommodate part of the oversubscription, AutoWallis increased the upper limit of the planned issue from HUF 8 billion to HUF 10 billion. As a result of the regrouping, the newly issued shares were available to retail investors and to institutional investors in a total value of HUF 2.5 billion and HUF 7.5 billion, respectively, with significant amounts of demand still unmet among subscribers at this price point. The significance of the offering is shown by the fact that subscription of this magnitude has not been seen on the Budapest Stock Exchange for more than 10 years.
2021.11.11.
Read moreTwo days left of the institutional subscription for AutoWallis shares
The public offering of AutoWallis shares will be closed on Tuesday: institutional investors can submit their final auction sheets for AutoWallis shares at OTP Bank until 6:00 pm tomorrow. Institutional investors can purchase shares for the same price of HUF 107-122 as for retail investors, with the final issue price determined jointly by AutoWallis and the lead-manager within the price band after the book-building has been closed. As widely known, retail subscription was closed after three days as interest far exceeded expectations: the submitted subscription applications were almost double the maximum amount originally offered to retail investors.
2021.11.08.
Read moreThe institutional subscription for AutoWallis shares is now underway
Starting today, institutional investors can submit auction sheets for AutoWallis shares to OTP Bank. The auction lasts until November 9, with the total of HUF 5-6.5 billion in shares available at the same price of HUF 107-122 as for retail investors. The final issue price for shares of the automotive company of the Budapest Stock Exchange will be determined jointly by AutoWallis and the lead-manager within the price band after the book-building has been closed. As widely known, retail subscription was closed after three days as interest far exceeded expectations: the submitted subscription applications were almost double the maximum of HUF 1.5 billion originally offered to retail investors, totaling more than HUF 2.8 billion.
2021.11.02.
Read moreManagers received AutoWallis shares as part of the Employee Share Ownership Plan
As the objectives set for in one of the programs of the 2019 Employee Share Ownership Plan (ESOP) launched by AutoWallis were met, the managers participating in the program became eligible to receive a total of 16.6 million shares. The shares were provided from the ESOP organisation’s 19.9 million shares, as a result of which the organisation’s shares in the Company decreased to below 5%. 24 AutoWallis and subsidiary managers are participating in the first remuneration policy launched in 2019.
2021.10.29.
Read moreThanks to substantial demand, retail share subscription was closed after three days
Thanks to interest that far exceeded expectations, share subscription, originally planned for 16 days, was closed after three days. In the public offering launched on Monday, AutoWallis originally offered shares in a total value of HUF 1.5 billion; however, in just three days, retail investors submitted subscription applications of more than HUF 2.8 million, almost twice the planned amount, to OTP Bank at the maximum price of HUF 122. Institutional investors will be able to purchase AutoWallis shares between November 2 and 9, 2021 in the price range of HUF 107-122 specified in advance, similarly to retail investors.
2021.10.28.
Read moreStarting today, AutoWallis shares can be subscribed at OTP Bank
The largest public offering on the Hungarian stock exchange in recent years has kicked off
Retail investors who submit their subscription applications to OTP Bank until November 9 can purchase shares newly issued by AutoWallis in the HUF 107-122 price range (as of Monday, the 30-day moving average is HUF 126). This is the largest public offering in Hungary in recent years, meaning the transaction is important for the whole Hungarian capital market. The vehicle company registered on the Budapest Stock Exchange plans to increase its revenue to more than four times and its EBITDA by more than six times compared to 2020 figures by 2025. The primary goal of AutoWallis’s public offering, planned to amount to HUF 6-8 billion but which may end up more in case of oversubscription, is to provide part of the financing for the HUF 16-38 billion in acquisitions and business developments planned by 2025
