Visonka shares listed to get capital independently of banks

KEG, namely Central European Gas Terminal listed its feed unit Visonka on the Budapest Stock Exchange to get capital for developments independently of banks, KEG CEO Richard Pimper said at a press conference on Thursday, a day after Visonka shares started trading.

Most banks these days prefer not to finance agricultural businesses, but a listing gives Visonka a source of supplemental capital for developments, said board member Zsolt Gerlei. Visonka does not have any concrete development goals at the moment, he pointed out.

KEG has a long-term strategy for Visonka which is why it does not want to sell any more than 30% of Visonka shares in the next half year, Pimper added.