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Kapolyi Advises AutoWallis on Public Offering

Kapolyi Advises AutoWallis on Public Offering

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Kapolyi has advised Budapest Stock Exchange Premium-listed automotive investor AutoWallis on preparing its latest public share issuance.

The firm will continue to advise on AutoWallis's retail share sale, between October 25 and November 9, as well as on its institutional share sale, from November 2 to November 9, 2021.

According to Kapolyi, car exchange and mobility service provider AutoWallis plans to raise funds in the amount of HUF 6-8 billion. The company presented the terms and conditions of the fundraising and its strategic objectives on October 14, 2021.

"By raising funds, the goal is to further expand the company's stock market weight, share liquidity, and turnover," AutoWallis CEO Gabor Ormosy commented. "We are confident that hundreds of new investors will join the now nearly 2,800 retail shareholders with the aim of supporting our growth strategy and participating in the success story of the Hungarian stock market car company."

Kapolyi also advised AutoWallis on its IPO and listing, in 2019 (as reported by CEE Legal Matters on February 14, 2019).

Editor's Note: On November 12, 2021, Kapolyi announced that the share issuance and sale had closed, at a price of HUF 117 per share, for a total subscription amount of HUF 10 billion.

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