Budapest, November 2, 2020 \u2013 AKKO Invest takes another significant step ahead at the\nBudapest Stock Exchange, with its shares being traded in the Premium category starting\nMonday. The asset management company of more than 1,000 shareholders has achieved\nsignificant results recently: in September, its shares were included in the BUX index, and\nthey announced the purchase of one of the main property management companies in\nHungary, NEO Property Services Zrt. AKKO intends to realize its growth plans within the\nHungarian stock exchange, and continues to explore the relevant opportunities.<\/p>\n\n\n\n
Starting Monday, the shares of AKKO Invest Nyrt. will be traded in the Premium category of the\nBudapest Stock Exchange, so the company continues on the path started at its 2019 transformation.\nZolt\u00e1n Prutkay, President of AKKO Invest explained that the company had made considerable\nprogress in the Hungarian capital market over the past months: their shares had been\nincluded in the top categories of the Budapest Stock Exchange, being listed in the BUX index\nsince September, and traded in the Premium category starting November 2. He emphasized\nthat the company had more than 1,000 shareholders, so the growth of the company was directly\nmonitored by many people. Transparent operation is especially important for them, so they are happy\nto meet the additional requirements resulting from the Premium membership. He added that they\ncontinued looking for growth opportunities, and they were planning on investment decisions that aim\nto increase the shareholder value. One step towards this goal is the September decision of the\nBoard of Directors regarding the largest acquisition of AKKO\u2019s history, which is also\nconsiderable from the aspect of the Hungarian property management sector. The asset\nmanagement company decided about the purchase of NEO Property Services Zrt. (previously\nSTRABAG Property and Facility), a company owned by WING Zrt., and achieving a revenue\nof HUF 23.3 billion and an EBITDA of HUF 1.5 billion last year. Since its foundation in 1999, NEO\nhas been one of the leading property management companies in Hungary, with favorable growth\nprospects. The closure of the transaction, which the company plans to finance from its own financial\nsources and bank loans, requires the availability of the necessary funding and the approval of the\ncompany\u2019s shareholders.<\/p>\n\n\n\n
Regarding the introduction of AKKO\u2019s shares in the Premium category, Istv\u00e1n M\u00e1t\u00e9-T\u00f3th,\nDeputy CEO of BSE, said that the growth and the increasingly considerable presence of the\ncompany in the capital market reflects the successful realization of the strategic objectives\nof the Budapest Stock Exchange, aiming to drive capital funding: the category shift of AKKO\nInvest is another welcome capital market milestone in the midst of this challenging year.<\/p>\n\n\n\n
Zolt\u00e1n Prutkay added that being included in the BUX index and the Premium category, as well\nas the acquisition of NEO are significant steps for the company towards the realization of its\ngrowth plans, which aim to make the company a major asset management company of the\nHungarian capital market. AKKO Invest supports the strategy of the Budapest Stock\nExchange announced in 2016, and trusts that new measures will be introduced in the future\nfor the further development of the capital market and for increasing the market liquidity of\nthe stock market.<\/p>\n\n\n\n