Econet plans 1.2 -2.2 billion HUF capital raise

Econet.hu announced on Monday that they intend to raise 1.2 billion – HUF 2.2 billion HUF of capital in a private placement.

The purchase price will be the turnover-weighted average share price in the 30 days to 26th November. The minimum issue price in the placement will be HUF 120 per share. Proceeds from the issue will be used to cover payment due on the purchase price of festival organizer Sziget on November 29.