Visonka shares listed to get capital independently of banks

By: trademagazin Date: 2011. 06. 23. 12:33

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.

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