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Kapolyi Advises on AutoWallis IPO and Listing on Budapest Stock Exchange

Kapolyi has advised AutoWallis Plc., a new company of the Wallis Group specializing on automotive investments, on its February 7, 2019 IPO and listing on at the Budapest Stock Exchange.

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Kapolyi has advised AutoWallis Plc., a new member of the Wallis Group specializing on automotive investments, on its February 7, 2019 IPO and listing on the Budapest Stock Exchange.

According to a Kapolyi press release, "the event was attended by Mr. Tibor Veres, majority shareholder of Wallis Group, Mr. Zsolt Mullner, Chairman of the Board of Directors of AutoWallis Plc., Mr. Gabor Szekely, investment director of the company, and Mr. Richard Vegh, CEO of BSE. The Kapolyi Law Firm ... was represented at the event by Jozsef Kapolyi, Managing Partner, Viktor Krezinger, leader of the [firm's] capital markets’ practice group, and Adam Menyhart, Associate."

The Kapolyi Law Firm reports that it "managed and carried out the complex corporate law related transaction of capital increase in a value of 15.8 billion forints, and, simultaneously, the licensing procedure before the Hungarian supervisory authority of capital markets on the public bid of Wallis acquiring a qualifying majority as a result of the capital increase, as well as on the publication for the listing of AutoWallis Plc. on the stock exchange."

According to the Kapolyi Law Firm, Tibor Veres explained that "he is committed to the development of the Budapest Stock Exchange, as a number of prominent undertakings of the group has already benefited from the financing opportunities provided by the public operation. Alteo Plc., a majority-owned energy service provider and trader of the investment group, has been listed on the Hungarian stock exchange since 2010, while Wing Zrt., leading real estate developer and investor in the Hungarian real estate market, is one of the biggest bond issuers on BSE."

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