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Kinstellar assists Budapest Stock Exchange going public, listed in the BSE Standard category

June 2023 – On 21 June 2023, on the 33rd anniversary of its re-establishment, Budapest Stock Exchange Plc. (BSE) has entered the BSE Standard category. The listing significantly supports the ownership objectives of the National Bank of Hungary as the majority shareholder of BSE as well as the international ambitions of BSE, and is of exemplary importance, as the BSE aims to promote the benefits of going public among domestic medium-sized companies.

The listing of BSE is in line with the strategy of developing the domestic capital market, providing the central player of the domestic capital market with a long-term sustainable operating environment that supports value creation, and supporting the efforts of the majority owner, the Hungarian National Bank, to attract new investors to the stock exchange.

A total of 5,413,481 dematerialised registered ordinary shares of BSE, with a nominal value of HUF 100 each and a total nominal value of HUF 541,348,100, were admitted to the Standard category of the Stock Exchange's regulated market through a technical listing with the assistance of Concorde Értékpapír Zrt., ERSTE Befektetési Zrt., OTP Bank Nyrt., PwC Hungary and Kinstellar as advisors.

Kinstellar’s team in Budapest provided advice on the preparation of the key documents related to the listing of BSE, including the prospectus and its regulatory approval, as well as on almost all aspects of the project, including preparation of BSE for its public operation.

Kinstellar team was led by Partner Levente Hegedűs (Banking, Finance & Capital Markets), supported by Partner Gábor Gelencsér (Corporate/M&A), Senior Associate Áron Barta (Corporate/M&A and Capital Markets), Associate Judit Sós (Corporate/M&A), and Junior Associate Veronika Heiszer (Banking, Finance & Capital Markets).

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