AutoWallis has once again won the “The Share Capital Increase of the Year” Award conferred by the Budapest Stock Exchange (BSE) professional jury at the Best of BSE Award 2021 Gala after the automotive company registered on the Hungarian stock exchange closed its public offering with results that exceeded all expectations.
For the second time in a row, the professional jury of the Budapest Stock Exchange has recognized AutoWallis Plc’s performance with the “The Share Capital Increase of the Year” Award after the company’s public offering to retail customers as well was closed last November with success far exceeding expectations and oversubscription of more than HUF 10 billion compared to the original plans. The significance of the HUF 10 billion offering, closed with the participation of more than 1,200 investors, is shown by the fact that it was the first on the regulated Budapest Stock Exchange (BÉT) market since 2017, with public retail subscription of this magnitude not seen on the Hungarian trading floor in more than 10 years. The raising of capital goes a long way in supporting AutoWallis Group’s goal of using the received amount to implement business developments and acquisitions up to HUF 38 billion, which help the company in becoming a major vehicle trading company and mobility service provider in the Central and Eastern European region by the end of the decade. It was thanks to this that AutoWallis again received the prestigious award again in 2021, after 2020. Last year, AutoWallis received the award because it raised a total of HUF 4.4 billion in capital by inviting institutional investors in 2020 to finance its growth strategy.In connection with the Best of BSE “The Share Capital Increase of the Year” Award, AutoWallis Chairman Zsolt Müllner said: “We are particularly proud of this honor because it clearly shows the essence of the stock exchange, namely that companies actively use their presence to raise capital to finance their growth objectives. That is what we do, and, like the success of last year’s public offering clearly illustrates, our goals are now supported by more than 4000 shareholders – including 40 institutional investors – for which we would like to express our gratitude.”
Gábor Ormosy, CEO of AutoWallis added that the successful share issue continued to bolster the Group’s balance structure with the issue of shares exceeding HUF 10 billion. The management of the Group responsibly and dutifully relies on the secure financial backing provided by these sources for the implementation of its growth strategy.