Real estate investor and asset manager Adventum Fund Management's IPO is planned to take place before the end of 2023, Bloomberg reports. This could be the first IPO denominated in euros within the Budapest Stock Exchange (BSE).
If successful, there will be three companies which have their shares traded in euros. Property management and development firm Graphisoft Park, as well as high-tech company OXO Technologies, shifted from Hungarian forints to euros earlier this year.
"We decided to change to euros because our income and debts are mostly in euros", Kristóf Bárány, founder of Adventum argued.
Adventum Group (AG) was established in 2016. The group currently owns and manages 700,000 sqm of commercial property in several countries in CEE with a total asset value of over €1 billion. Last year AG acquired a large Tesco portfolio containing 18 retail parks in Hungary and the Czech Republic.
Sign up today for the latest news