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* Largest IPO on Budapest bourse in years
* Shares offered at price range between HUF 5,100 to HUF 6,300
* Offer period ends on June 29
* Proceeds to finance purchase of Poland’s Link
By Krisztina Than
BUDAPEST, June 19 (Reuters) - Hungarian road transport firm Waberer’s International launched an initial public offering (IPO) in Budapest on Monday, in which it plans to raise about 45 million euros in capital to help finance its purchase of Polish peer Link.
The IPO will be the biggest on the Budapest bourse in years and offers some hope for a possible revival of a market currently dominated by four blue-chip stocks.
Waberer’s is one of Europe’s biggest haulage businesses with a fleet of more than 3,500 vehicles and a total revenue of 572.4 million euros in 2016.
The company said on Monday that it would offer up to 11,735,085 shares beginning on Monday and ending on June 29.
The offering is priced in a range from 5,100 to 6,300 forints per share. The price will be set on June 29.
It will comprise up to 3,088,236 newly issued ordinary shares and also existing shares held by CEE Transport Holding BV.
The offering will include a private placement to institutional investors and a public offering of up to 1,379,718 existing shares, up to 297,175 over-allotment shares and up to 617,647 new shares in Hungary.
Assuming all the offered shares are sold at the mid-point of the offer price range, the total net proceeds are expected to amount to about 197 million euros, of which Waberer’s will receive about 45 million, it said.
The company said it would use around 32 million euros of the proceeds to help fund the acquisition of Polish peer Link, with the rest used for working capital and general corporate purposes. Waberer’s signed a deal to buy Link in May.
The company will hold a news conference at 1000 GMT.
The company is indirectly controlled by funds advised by Mid Europa Partners, a financial investor. Shares held by those funds will be sold via CEE Transport Holding BV, Waberer’s said. (Reporting by Krisztina Than and Marton Dunai; editing by Jason Neely)