Trading of Gránit Bank Shares Starts at the BSE

Gránit Bank has carried out the largest public offering of shares in Hungary in the last 25 years, the founder and CEO of Gránit Bank Plc., Éva Hegedüs said on Monday after the bank's shares were launched on the standard category of the Budapest Stock Exchange (BSE) with a symbolic bell.

Éva Hegedüs stressed that in the listing period that ended in mid-December, more than HUF 21 billion of applications were received from institutional investors, as well as retail investors and companies that are not qualified investors, in the advertised price range of HUF 13,172 – 15,054, compared to the preliminary plan of HUF 7 billion.

In the course of the share subscription, the company decided to issue 1,220,820 new ordinary shares with a nominal value of HUF 1,000, raising HUF 17.7 billion in new funds. Of this amount, retail investors subscribed for 64.2% of the ordinary shares for HUF 11.5 billion, while institutional investors subscribed for 35.2% of the ordinary shares for HUF 6.2 billion, she said, giving details.

She added that 1,864 investors subscribed for shares, of which 1,243 (67%) subscribed through the bank's mobile application, with 90% of them using the bank's digital channels for subscription, including the mobile bank. This is another testament to the success of the company's digital business model, she added.

At the end of November, Gránit Bank managed more than 222,000 accounts, its deposits exceeded HUF 1,114 billion and its loans reached HUF 637.5 billion. The bank's stock market capitalization was HUF 262.3 billion and the market value of its equity capital was HUF 278.7 billion, according to a presentation by the bank.

Éva Hegedüs said that after the listing, 19.53% of their shares will be floated on the stock exchange, but they are working to reach the 25% level required for the premium category.